Associated Press

9:19 a.m. CDT, September 22, 2011

Fixed mortgage rates hovered at record lows for a third straight week and are likely to fall further in the coming weeks.

Freddie Mac says the average rate on the 30-year fixed mortgage was unchanged at 4.09 percent this week. That’s the lowest rate seen since 1951.

The average rate on the 15-year mortgage ticked down to 3.29 percent. Economists say that’s the lowest rate ever for the loan.

Mortgage rates tend to typically track the yield on the 10-year Treasury note. They should fall further now that the Federal Reserve said it would shuffle its holdings to drive down long-term interest rates.

But low rates have done little to boost home sales. Few would-buyers can meet stricter lending standards or have enough money for larger down payment requirements.