RATES FALL: Average U.S. rates on fixed mortgages fell again this week to the lowest levels on record, giving buyers more incentive to brave the housing market.

THE NUMBERS: The rate on the 30-year loan dipped to 3.56 percent, mortgage buyer Freddie Mac says. That's the lowest since long-term mortgages began in the 1950s. The rate on the 15-year mortgage declined to 2.86 percent, also a record.

OUTLOOK: Cheap mortgages have contributed to a modest housing recovery. Home sales are up from a year ago and home prices are rising.