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Dec
05
2008

Long-Term Mortgage Rates Plummet; Short-Term Rates Fall But Not as Dramatically

Market Conditions and Outlook
Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.53 percent with an average 0.7 point for the week ending December 3, 2008, down from last week when it averaged 5.97 percent. Last year at this time, the 30-year FRM averaged 5.96 percent. The 30-year FRM has not been lower since January 24, 2008, when it was 5.48 percent.

Read entire article: Long-Term Mortgage Rates Plummet; Short-Term Rates Fall But Not as Dramatically

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