The rate on a 30-year mortgage has once again fallen to a record low.
The average U.S. rate on 30-year mortgages fell back this week to 3.49% matching the lowest rate since long-term mortgages began in the 1950's.
The rate on the 15-year fix mortgage plunged to a new record low of 2.77%.
Last week, the fed said it plans to spend 40 billion dollars a month to buy mortgage bonds for as long as it thinks necessary to make home buying more affordable.
