Mortgage rates hover near record lows

Mortgage rates fell this week, at least matching previous record lows. 

The average rate on the 30-year fixed mortgage matched its all-time record low of 3.49 percent from 3.55, while the 15-year rate hit a new low at 2.77 percent a drop from 2.85 percent, Freddie Mac announced Thursday. 

"Following the Federal Reserve's announcement of a new bond purchase plan, yields on mortgage-backed securities fell bringing average fixed mortgage rates to their all-time record lows, which should aid in the ongoing housing recovery," said Frank Nothaft, the vice president and chief economist for Freddie Mac.

Last week, Federal Reserve Chairman Ben Bernanke announced another round of stimulus designed to keep mortgage rates low with the aim of boosting the housing market's gradual recovery. 

There were a couple of bits of positive housing news on Wednesday — home construction increased in August to its fastest pace since April 2010 and existing home sales were up 7.8 percent in August, the best showing since May 2010.