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Lesley Mitchell
Lesley Mitchell has been a business reporter at The Tribune since 1997, covering real estate, the retail industry, personal finance and economic development. A graduate of Utah State University's MBA program, Lesley, and her family, are dedicated to finding creative ways to save money, avoid debt and still have fun.

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Mortgage rates hit record low (again)

The average rate for 30-year fixed-rate home loans hit another record low this week, according to mortgage giant Freddie Mac. That's a full percentage point below last year's levels, when many experts were contemplating if rates could even go any lower.

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Rates for 30-year home loans averaged 3.49 percent this week, down from 3.53 percent last week. Last year at this time, average rates for 30-year mortgages were about 4.5 percent.

If you can handle the higher monthly payments on a 15-year loan, those are averaging a super-super low 2.80 percent, down from 2.83 percent last week. That's also about one percentage point below last year's levels.



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