Mortgage rates hit record lows

Home loan rates have hovered at or below record lows since the spring as yields on Treasury bonds, which tend to align with mortgage rates, dropped while the Federal Reserve bought up government debt. 

The low rates haven't done much to help a housing market burdened with a large inventory of homes for sale — more than a year's worth — and millions in negative equity or in foreclosure or opting to refinance rather than buy. 

The next few months aren't looking any better, with persistently high unemployment and a lack of job creation.