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Borrowing costs continue to fall, but that's failed to boost home buying.
By Les Christie, CNNMoney.com staff writer
December 31, 2008: 1:07 PM ET
NEW YORK (CNNMoney.com) -- Rates on mortgage loans are the lowest in the 37-year history of the Freddie Mac Primary Mortgage Market Survey, according to a weekly report released Wednesday.
The average 30-year, fixed-rate loan issued to borrowers declined to 5.1%, with 0.7 up-front points, for the week ending December 31, according to the survey.
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Borrowing costs continue to fall, but that's failed to boost home buying.