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Mortgage Rates At Record Low For 2nd-Consecutive Week
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Published: April 3, 2009
Rates on 30-year mortgages fell to the lowest level on record for the second-consecutive week after the Federal Reserve launched a new effort to assist the staggering U.S. housing market.
Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dropped to 4.78 percent this week, from 4.85 percent last week. The rates do not include add-on fees known as points. It was the lowest in the history of Freddie Mac's survey, which dates back to 1971. Rates are down by more than a full percentage point from a year ago.
A wire report
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