Article: HOUSING Q & A What lower mortgage rates mean to you

The Federal Reserve's efforts to fight the financial crisis are bringing down interest rates, setting the stage for more homeowners to consider refinancing their mortgages and putting some money back in their pockets.

The Fed's action to boost the sagging economy also could lead to more home sales, at least among those who aren't worried about losing their jobs.

The Mortgage Bankers Association said Wednesday that average 30- year fixed rates fell last week to 5.18% with 1.13 points from 5.44% with points of 1.24 points a week earlier on 80% loan-to-value mortgages. But sub-5% rates increasingly seem to be expected, especially since U.S. government policy-makers have said that's what they'd ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!