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Mortgage interest rates DROP!

By: Dennis Norman

Last week the average interest rate on 30-year fixed-rate mortgages dropped to 5.53% from 5.97%, making it the biggest one-week fall in 27 years! The Mortgage Bankers Associaiton also reported that mortgage loan applications were up over  100% during the week of November 24th after news that the Fed’s plan to buy mortgages

In addition, as I reported last week, The Treasury Department is strongly considering a plan promoted by the National Association of REALTORS(R) to intervene directly in the mortgage industry by buying down mortgage interest rates to 4.5%.

Related posts:

  1. Mortgage interest rates drop this week; lowest since May
  2. Home Mortgage Applications Last Week Drop; Interest Rates Declined Slightly
  3. Mortgage interest rates drop slightly-Mortgage applications increase
  4. 30 Year Mortgage Interest Rates Drop Below 5 Percent
  5. Home purchase mortgage applications decline; interest rates drop

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