If you're looking to buy a house, or refinance your current mortgage, the terms have never been better.
Mortgage giant Freddie Mac says the average interest rates for 30-year and 15-year loans hit record lows this week. The 30-year fixed rate is 3.4 percent. And if you can afford the higher monthly payments on a 15-year loan, you can get in at an eye-popping 2.73 percent.
Analysts say the Fed's announcement this month that it would be buying $40 billion a month in mortgage-backed securities is driving rates down.