PORTLAND - The housing market continues to surprise, with 30 and 15-year mortgage rates again at record lows, dropping for the past six weeks.

While it's great news for first time home buyers, will it help spur more sales?

Realtors say interest rates have been low for so long, that it probably won't have a big impact. Where it will, is on those who are looking to refinance.

A 30-year fixed is now at 3.67 percent, a drop from 3.75 percent last week. A 15-year fixed fell to
2.94 percent, a slight from 2.97 percent.

It was the sixth straight week of record drops.

But some homeowners might not be able to take advantage of these rates, because of credit issues or not enough for a down payment.

Turmoil in Europe is bring our rates down.

There's the fear the banking system in Europe will crumble and a lot of fear drives interest rates to go down, just like a poor economy does. It's not the economy this time, it's really everything going on with, Europe the interest rates are going down, said Mark Hanna, CEO, Directors Mortgage.

For realtors, their wish is for more real estate to sell. Inventory is low. There's not much to choose from. That's great for sellers, but not so much for buyers. However, it is helping to increase prices a bit.

For homeowners underwater, HARP2, the Home Affordability Refinance Program aims to be able to help them make it easier to re-fi.

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