Mortgage Rate Falls Again

Home mortgage rates dropped again this week.  30-year mortgages averaged 5.01% , falling to their lowest rate since Freddie Mac’s began the survey in 1971 and the tenth straight weekly drop.

The Federal Reserve has been buying up mortgage backed securities in order to drive mortgage rates down.

Rates on 15-year fixed mortgages averaged 4.62% this week.  Five-year ARM’s averaged 5.49%.

Related posts:

1. 30 Year Mortgage Rates Fall Below 5%
2. Federal Reserve Move Lowers Mortgage Rates Below 5%
3. Refinancing Boom Ending
4. Fed Purchases Of Mortgage Backed Securities To End
5. Higher Mortgage Rates Possible

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