With major banks and big Wall street firms feeling the pain associated with the country's mortgage fiasco mortgage rates fell so much this week that 30-year mortgages rates dropped to the lowest level in more than two years. 30-year fixed-rate mortgages averaged 6.10 percent. and was the lowest rate since the week of Oct. 13. 2005, when rates were at 6.03 percent.

And that may not be the end of it, as the Fed's Bernanke is said to be ready to lower rates further on december 11.

Let's hope this helps sales!

 

1 Comments on Mortgage Rates drop a Lot this Week!

DEC
02
2007
116,413 Points Outside Blog

Yes, let's hope the decrease motivates qualified buyers to take advantage of the rate drop.

7:35am • #1

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Orlando Homes Armando Rodriguez Real Estate & Mortgage Broker-GRI

Orlando, FL

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QUEST REALTY SERVICES

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