30 year mortgage rates fell for the fifth straight week to below 4.75%, the lowest mark since 1971.
Frank Nothaft, Freddie Mac's Chief Economist, said mortgage rates have fallen as the Treasury Department and the Fed added more than $100 billion in liquidity to the mortgage market since September 2007.
Mortgage rates have been falling since late November since the Federal Reserve started injecting $500 billion in mortgage back securities in an attempt to get banking insitutions to lend more money during the down turn in the US housing market.
Please keep in mind these rates do NOT included origination points or discount points.
Comments(0)