Mortgages Tie Record Low of 4.78%, WSJ

Rates on 30-year fixed-rate home mortgages averaged 4.78% this week, matching an all-time low in Freddie Mac's weekly survey of conforming mortgage rates, released Wednesday. The mortgage averaged 4.83% last week and 5.97% a year ago. This week's average matched a low set the week ending April 30. "Interest rates for 30-year fixed-rate loans are currently 0.8 percentage points below this year's peak set in mid-June, which shaves roughly $100 off the monthly payments on a $200,000 mortgage," said Frank Nothaft, Freddie Mac chief economist.
By Amy Hoak, Nov. 25, 2009 WSJ

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