Mortgage buyer Freddie Mac says the average rate on the 30-year loan fell to 3.56 percent. That's down from 3.62 percent last week and the lowest since long-term mortgages began in the 1950s.
The average rate on the 15-year mortgage, a popular refinancing option, dipped to 2.86 percent, below last week's previous record of 2.89 percent.
The rate on the 30-year loan has fallen to or matched record low levels in 11 of the past 12 weeks.
Cheaper mortgages have contributed to a modest housing recovery this year. Home sales were up in May from the same month last year. And home prices are rising in most markets.