Mortgage rates lowest in nearly 4 years
January 24th, 2008 Posted in Mortgage InformationFreddie Mac reports 30-year, fixed-rate mortgages averaged 5.48 percent
WASHINGTON - Rates on 30-year mortgages dropped for a fourth straight week to the lowest level in nearly four years, raising hopes that low rates will help spur a rebound in the hard-hit housing industry.
Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 5.48 percent this week, down from 5.69 percent last week.
It was the fourth consecutive decline and the third straight week that rates have been below the 6 percent level. The new rate marked the lowest point for 30-year mortgages since they averaged 5.40 percent the week of March 25, 2004.
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