A newly listed home for sale in Cincinnati. (Al Behrman/AP)

Despite these attractive rates, many would-be homebuyers aren’t taking action. High unemployment and tougher lending standards have made it difficult to make a major purchase.

And it’s not just new homebuyers that aren’t making a move in the current climate. As the Post’s Dina ElBoghdady recently reported, “Refinance activity has been constrained by tough lending standards, a weak job market and eroding home values — all of which have have kept millions of homeowners on the sideline. That leaves lenders chasing after a limited number of good credit quality borrowers who have enough equity in their homes to qualify for a new loan.”

Related stories:

Time to refinance--again?

Home prices rise in July