Give thanks if you qualify for record low mortgage rates

Bernanke: Tight lending standards and shadow inventory muting housing sector's contribution to recovery

Would-be homebuyers and homeowners looking to refinance can give thanks as mortgage rates set new lows this week, although many borrowers with less than perfect credit won’t be able to take advantage of the savings that low rates afford.

Rates on 30-year fixed-rate mortgages averaged 3.31 percent with an average 0.7 point for the week ending Nov. 21, down from 3.34 percent last week and 3.98 percent a year ago, according to the results of Freddie Mac’s weekly Primary Mortgage Market Survey. That’s a new low in Freddie Mac records dating to 1971.