Rates at Historic Low Levels Again

Freddie Mac reports that rates on fixed mortgages again fell to their lowest levels in decades this past week, with the average interest on 15-year loans dipping to 3.57 percent from 3.63 percent a week earlier and the average interest for 30-year loans sliding to 4.17 percent from 4.24 percent. That is the lowest since 1971. The impact of the favorable borrowing costs is being muted somewhat, however, by a high rate of joblessness, foreclosures, and tight credit

[SOURCES: Freddie Mac; Information, Inc.]

*I pulled the above information verbatim out of the TAR newsletter*