30 Year Fixed Mortgage Rates below 6 percent
Fell below 6 percent after the Fed announced that buy up to 500,00 of mortgage-backed securities over the next year to year.
November 26, 2008 : Freddie Mac’s
McLean, VA – Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 5.97 percent with an average 0.7 point for the week ending November 26, 2008, down from last week when it averaged 6.04 percent. Last year at this time, the 30-year FRM averaged 6.10 percent. The 30-year FRM has not been this low since October 9, 2008, when it was 5.94 percent.
Full Press Release
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My Opinions
This is holiday gifts from FED?
For me good actions because it cut cost of consumer but not completely. Refinance and cut interest rate is some of Debt Restructurings. If Gov need to see on better home markets, need full actions. include suspense some payment, bullet payment, expand term etc. that match cash flow of customers
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