It looks like mortgage rates may be staying below 4 percent for a while longer than we expected. This is great news for people who are still thinking about finding and purchasing their new homes.

Today's Mortgage Rates

The Federal Reserve released recent comments that suggested it may continue to hold off in raising short-term interest rates and weaker-than-expected consumer demand is all pushing Treasury yields lower."As the shock of the weak September employment report wore off, Treasury rates drifted higher,” says Sean Becketti, Freddie Mac’s chief economist. “In response, the 30-year mortgage rate climbed 6 basis points to 3.82 percent, marking 12 consecutive weeks below 4 percent. Late-breaking news suggests mortgage rates may remain in this territory a while longer. After this week's survey closed, Federal Reserve Governor Daniel Tarullo was quoted suggesting the Fed may not act this year, and Wednesday the 10-year Treasury closed under 2 percent in reaction to economic releases indicating weak consumer demand."All of that held 30-year fixed-rate mortgages below 4 percent for the 12th consecutive week.

National Averages

30-year fixed-rate mortgages: averaged 3.82 percent, with an average 0.6 point, rising from last week’s 3.76 percent average. A year ago, 30-year rates averaged 3.97 percent.15-year fixed-rate mortgages: averaged 3.03 percent, with an average 0.6 point, increasing from last week’s 2.99 percent average. Last year this time, 15-year rates averaged 3.18 percent.5-year hybrid adjustable-rate mortgages: averaged 2.88 percent, with an average 0.4 point, holding the same as last week. A year ago, 5-year ARMs averaged 2.92 percent.1-year ARMs: averaged 2.54 percent, with an average 0.2 point, dropping from last week’s 2.55 percent. Last year at this time, 1-year ARMs averaged 2.38 percent.Read more from Realtor.com on the latest mortgage rate report.