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Mortgage Rates Dropped to 38-year Low last week - What's next?	0	Mar 31, 2009

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Mar

Mortgage Rates Dropped to 38-year Low last week - What’s next?

Posted by Stacey McCarthy under For Buyers, General Information

Mortgage Rates Dropped to 38-year Low
The average interest on a 30-year mortgage fell to a 38-year low of 4.85 percent during the week ending March 27 from 4.98 percent the prior week, Freddie Mac reported.

The decrease came on the heels of the Federal Reserve’s announcement that it plans to purchase another $750 billion in mortgage-backed securities and up to $300 million in Treasuries.

Call Lisa Sozio at Wells Fargo Home Mortgage for today’s rate: 215-801-2949.

(Source: Boston Globe)