Cheap home loans provide bedrock for housing

Low mortgage rates could help keep recovery on track in 2013

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The cost of taking out a 30-year fixed-rate mortgage edged up slightly this week, while rates on 15-year loans popular with borrowers who are refinancing registered an almost imperceptible drop.

Both fixed-rate and adjustable-rate mortgage (ARM) loans remain at or near historic lows, with rates on 1-year Treasury-indexed ARM loans hitting a new low, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey.