Thursday, March 19, 2009

Mortgage rates sink, likely to keep falling

"Rates on 30-year mortgages plunged this week to the lowest level since January, and are poised to fall further after the Federal Reserve launched a new effort to prop up the flailing housing market.

Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dropped to 4.98% this week."

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Mortgage rates sink, likely to keep falling

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