Mortgages hit new low

Mortgages hit new low

Average rates on fixed 30-year mortgages fell to 3.53%, a record low since long-term mortgages began in the 1950s.

The average rate on the 15-year mortgage, a popular refinancing option, declined to 2.83 percent, below last week's previous record of 2.86 percent.

The rate on the 30-year loan has fallen to or matched record low levels in 12 of the past 13 weeks.

Read more at KGW.

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