Checking, I'm seeing rates approaching 4% for 30-year mortgages here (the US), down to 3.5% for a 15-year, which squares with what's been more-or-less the norm

Checking, I'm seeing rates approaching 4% for 30-year mortgages here (the US), down to 3.5% for a 15-year, which squares with what's been more-or-less the norm for a while, so is probably about right. 1% on a mortgage would... not be normal here.