U.S. mortgage rates reach milestone low

U.S. mortgage rates have reached their lowest level in nearly 50 years, according to Freddie Mac. The 30-year fixed mortgage averaged 3.29 percent for the week ending March 5 — a decrease from last week’s rate of 3.45 percent. A year ago, mortgage rates stood at 4.41 percent. Low mortgage rates help propel U.S. home sales and the refinance market. "The average 30-year fixed-rate mortgage hit a record 3.29 percent this week, the lowest level in its nearly 50-year history. Meanwhile, mortgage…