The average rate on 30-year fixed-rate home mortgages hit a record low this week, after the Federal Reserve announced it would purchase Treasury securities over the next six months, Freddie Mac’s chief economist said on Thursday.The 30-year mortgage averaged 4.85% in the week ended March 26, the lowest point since Freddie Mac’s weekly survey began in 1971. Last week, the mortgage averaged 4.98%; the mortgage averaged 5.85% a year ago.[30-Year Fixed Mortgage Rate]
By Amy Hoak, March 27, 09, WSJ

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