U.S. 30-Year Mortgage Rate Falls to Record 3.79% Home prices are down, but not out (Larry Downing/Reuters) A "Price Reduced" sign is displayed on a home for sale in northern Virginia suburb of Vienna, outside Washington, October 27, 2010. U.S. mortgage applications for home purchasing and refinancing rose last week as consumers sought to take advantage of near-record low interest rates, data from an industry group showed on Wednesday. (WASHINGTON) - Average U.S. rates for 30-year and 15-year fixed mortgages fell to record lows for the third straight week. The steady decline has made home-buying and refinancing more affordable than ever for those who can qualify. Mortgage buyer Freddie Mac says the rate on the 30-year loan dipped to 3.79 percent. That's down from 3.83 percent last week and the lowest since long-term mortgages began in the 1950s. The 15-year mortgage, a popular option for refinancing, declined to 3.04 percent. That's down from last week's previous record of 3.05 percent. Rates on the 30-year loan have been below 4 percent since early December. But so far, those cheap rates haven't been enough to ignite home sales. While sales of previously occupied homes picked up in January and February, they fell again in March and remain well below healthy levels. Low mortgage rates have helped boost builder confidence, which rose in May to a five-year high. And home construction has improved in the past six months, a reflection of that increase in confidence. Slower U.S. job growth and uncertainty about how Europe will resolve its debt crisis have led investors to buy more Treasurys, which are considered safe investments. MORE: Report: Fewer US Homes Foreclosed upon in April The average fee for 30-year loans was 0.7 last week, unchanged from the previous week. The fee on 15-year loans also was 0.7, the same as the previous week. The average one-year adjustable rate was 2.78 percent last week, up from 2.73 percent the previous week. The fee on one-year adjustable rate mortgages was unchanged at 0.5.