Mortgage Rates Hit Record Lows - Northern Michigan's News Leader

Mortgage Rates Hit Record Lows

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Mortgage rates hit record lows this week. Right now, the average rate for a 30-year fixed mortgage is only 3.75%; last week, the rates were at 3.78%, that was as low as they've been since the 1950's. 15-year rates are at 2.97%, also down from last week.

Traverse Area Association of Realtors says this has a positive impact on the housing market.