Mortgage rates hit another all-time low

The average interest rate on a 30-year fixed-rate mortgage fell to a record low of 2.88% this past week, according to Freddie Mac. That’s the lowest level in the nearly 50 years of the mortgage giant’s survey.

ear fixed-rate mortgage dropped to 2.44%. The low rates give potential home buyers more purchasing power and should strengthen demand in the real estate market, Freddie Mac said.

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