Associated PressA home for sale recently in Springfield, Ill.

The average rate for a conventional, 30-year fixed-rate mortgage fell below 4 percent for the first time on record, according to Freddie Mac’s weekly market survey that came out on Thursday.

While that is good news for anyone who wants to buy a house or refinance an existing mortgage, Freddie Mac’s chief economist, Frank Nothaft, noted in a prepared statement that the decline reflected worries about the global economy.

The 15-year fixed rate also fell to “the lowest level on record” for the sixth consecutive week, the survey found.

Mortgage rates have tracked a slide in 10-year Treasury yields, amid concern that Europe’s debt crisis is worsening and the United States economy may slide back into a recession.

Freddie Mac reported that 30-year fixed-rate home loans averaged 3.94 percent, with an average of 0.8 points, for the week ending Oct. 6. That’s down from last week’s average of 4.01 percent. Last year at this time, the average was 4.27 percent. (Points are essentially interest paid up front, in a lump sum.)

Meanwhile, the average 15-year fixed-rate mortgage was 3.26 percent, with an average of 0.8 points. Last week, it was 3.28 percent, and a year ago, it averaged 3.72 percent.

An exception to the drop in home loan rates was for one-year adjustable rate mortgages, or ARMS. Those rates inched up, to 2.95 percent with an average of .05 points, as the Fed began replacing $400 billion of its short-term Treasury securities, which serve as benchmarks for many ARMs, Mr. Nothaft said.

The question now is whether with many Americans, struggling with stubbornly high unemployment, depressed home prices and tougher borrowing requirements, can take advantage of the lower rates to buy a home, or refinance.

Will the lower rates spur you to refinance — or buy a house?

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