Cheap mortgage rates have made home-buying and refinancing more affordable than ever for those who can qualify mortgage buyer freddie mac said Thursday that the average rate on 30-year loans ticked down to 3.83%. Thats the lowest since long term mortgages began in the 1950s. And its below the previous record rate of 3.84% reached last week.The 15 year mortgage a popular option for refinancing, dropped to an average 3.05%, also a record. Thats down from last weeks old record of 3.07%.The average oneyear adjustable interest rate was 2.73% last week down from 2.7% the previous weekLow mortgage rates haven't done much to boost home sales. Rates have been below 4% for all but one week since early December. Yet sales of both previously lived in homes and new homes fell in March.There have been some positive signs in recent months. January and February made up the best winter for sales of previously occupied homes in five years.
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