Xenothon (xenothon) wrote in onlygoodnews,

Low mortgage rates- great for home buyers, homeowners (refinance!), and investors!

The country's No. 2 home funding company said 30-year mortgage rates dipped to 5.85 percent, their lowest since an average 5.83 percent in 1965, from 5.93 percent a week ago.

The 30-year loan has remained below the 7 percent level since mid-April, keeping home sales strong even as the U.S. economy continues to show signs of softness.

"Just when we were sure mortgage rates couldn't possibly drop any lower, we were surprised yet again," said Frank Nothaft, Freddie Mac chief economist.

Source: http://www.foxnews.com/story/0,2933,74460,00.html
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