Yesterday Freddie Mac reported that the rate on a 30-year fixed mortgage dropped to 3.84 percent which is the lowest its been since the 1950's when long term mortgages started.
Just this past February the 30-year fixed mortgage reached its previous record low rate at 3.87 percent.
Unfortunately, these lower rates have not spurred an increase in homes sales since home prices in some areas continue to decline and credit is still difficult to obtain.