The average U.S. rate on the 30-year fixed mortgage stayed this week at the lowest level on record.
Cheap mortgages have helped drive a modest housing recovery and could give the broader economy a jolt at a time when the job market is weak.
Mortgage buyer Freddie Mac says the average on the 30-year loan was 3.66 percent. That's unchanged from last week and the lowest since long-term mortgages began in the 1950s.
The average rate on the 15-year mortgage, a popular refinancing option, slipped to 2.94 percent. That's down from 2.95 percent last week and matches the record-low 2.94 percent reached three weeks ago.
The rate on the 30-year loan has been below 4 percent since December.
Copyright 2012 Associated Press. All rights reserved.
Friday, May 17 2013 7:16 PM EDT2013-05-17 23:16:53 GMT
One person has died in a crash near Harrisonville, MO, Thursday evening. The crash happened on Missouri Highway 7 and Walker Road. It involved a car and a tractor-trailer. Harrisonville is in Cass County.More >
Savannah Nash celebrated her 16th birthday last week. She died Thursday when her car slammed into a semi while she was texting during her first time driving by herself.More >
Friday, May 17 2013 6:05 PM EDT2013-05-17 22:05:44 GMT
A metro Atlanta woman said a snake bite cost her an arm and a leg financially. Lisa Zambito killed a copperhead snake like this one in her driveway a couple of weeks ago. "The head moved as I pickedMore >
A metro Atlanta woman said a snakebite cost her an arm and a leg - financially. More >
Friday, May 17 2013 11:23 PM EDT2013-05-18 03:23:46 GMT
With no state lottery in Alabama, and a buzz about the largest Powerball Jackpot in history, people are gassing up their cars, getting out cash and heading to Georgia. CBS Atlanta News caught up withMore >
With no state lottery in Alabama, and a buzz about the largest Powerball Jackpot in history, people are gassing up their cars, getting out cash and heading to Georgia.More >
Saturday, May 18 2013 10:38 PM EDT2013-05-19 02:38:31 GMT
Should a company be allowed to patent human genes? This is a question some experts are asking in light of actress Angelina Jolie's double mastectomy. Jolie had it done after a genetic test showed sheMore >
Should a company be allowed to patent human genes? This is a question some experts are asking in light of actress Angelina Jolie's double mastectomy. More >