Bond Rates Help Mortgage Rates Drop To Near Record Lows

The 30-year fixed-rate mortgage (FRM) averaged 4.98 percent with an average 0.7 point for the week ending March 19, 2009, down from last week when it averaged 5.03 percent. Last year at this time, the 30-year FRM averaged 5.87 percent. The 30-year FRM has not been lower since the week ending January 15, 2009, when it hit an all-time low of 4.96 percent in Freddie Mac's weekly survey survey.

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