NEW YORK (CNNMoney) -- Average rates for both 15-year and 30-year fixed mortgages fell to new all-time record lows this week, according to a report released by Freddie Mac Thursday.
Borrowers of 30-year loans were charged an average rate of just 3.84%, down from its previous low of 3.87% set in early February, according to Freddie Mac's weekly survey.
The average 15-year rate was 3.07%, down from the record of 3.11% set three weeks ago.
"Signs of slowing economic growth and inflation remaining subdued allowed yields on Treasury bonds to ease somewhat and brought most mortgage rates to new all-time record lows this week," said Freddie's chief economist, Frank Nothaft.
The cheap rates, which have remained at or below 4% throughout 2012, have done little to boost new home sales. In fact, sales of new homes slowed even further in March.
And last week, the Census Bureau reported that homeownership in the U.S. fell to its lowest rate in 15 years during the first quarter.
As the economy continues to improve, Doug Lebda, CEO of LendingTree said he expects mortgage rates to slowly start climbing again.
Borrowers who take advantage of today's rates are getting a rare bargain.
At 3.84% over 30 years, borrowers pay only $936 a month for a $200,000 loan. Payments for a 15-year fixed rate at 3.07% would come to just $1,388 a month. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.88% | |
| 15 yr fixed | 3.20% | 3.23% | |
| 5/1 ARM | 3.84% | 3.88% | |
| 30 yr refi | 3.82% | 3.93% | |
| 15 yr refi | 3.20% | 3.23% |
Today's featured rates:
