Residential mortgage bonds backed by the U.S. government have become a safe haven for investors again, helping to drive mortgage rates to record lows. The average interest on 30-year fixed loans fell this week to 4.58 percent, down from 4.69 percent a week ago, reports Freddie Mac.
With homes prices at an all time low and interest rates at an all time low it is a perfect time to buy!
Source: The Wall Street Journal, Mark Gongloff (07/02/10)
Friday, July 2, 2010
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