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Article: United States: US Mortgage Rates Drop to 5.2%, Freddie Mac Says.
- Article from:
- TendersInfo
- Article date:
- July 11, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: babalu03
Mortgage rates in the U.S. fell for a second consecutive week, easing concern that a Federal Reserve plan to lower the cost of home loans had lost momentum. The average 30-year rate dropped to 5.2 percent from 5.32 percent, mortgage buyer Freddie Mac of McLean, Virginia, said today in a statement. The 15-year rate averaged 4.69 percent.
If I were trying to refinance, I wouldn t wait very long, said Dana Johnson, chief economist at Dallas-based Comerica Bank. I don t think mortgage rates are going to stay down here very long. Federal Reserve Chairman Ben S. Bernanke is trying to lower borrowing costs with a $1.25 trillion program to ...
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