According to Freddie Mac the average 30-year fixed loan sank to 4.58% last week. That is the lowest since the mortgage company began keeping records.
Mortgage rates have dropped, according to the Wall Street Journal, since mid-April because investors are nervous about Europe's debt crisis and the economy thus have shifted money into the relatively safe Treasury Bonds. That has caused the yields on those bonds to fall. Long term fixed mortgage rates tend to track those yields.
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