Mortgage Rates Dip to Attractive Levels

After bouncing back from record lows, rates retreated slightly.

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Thirty-year fixed mortgage rates dipped slightly this week to an average of 5.10 percent, Freddie Mac said Thursday. The retreat comes after rates bounced back from a record low weekly average of 4.96 percent, which they hit two weeks ago amid lower inflation and Federal Reserve moves to buy up mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac. Thirty-year fixed mortgage rates are down sharply from 6.46 percent in late October 2008.

[See Low Mortgage Rates: 7 Things You Need to Know to Refinance.]