Average mortgage rates ticked close to historic lows this week after being largely unchanged for the past month, according to Freddie Mac.
The move is helping to spur the continued improvement in home sales leading to the spring peak season.
The rate on a 30-year fixed mortgage averaged 3.51 percent this week, down from last week’s 3.56 percent. Last year at this time, it averaged 3.9 percent.
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The 15-year fixed-rate mortgage averaged 2.76 percent, down slightly from last week’s 2.77 percent. The rate was at 3.17 percent in this week last year.
New home sales this month rose to their highest levels since July 2008, and existing home sales reached levels not seen since July 2007.
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