Historic Lows on Interest Rates!

"Mortgage rates for all but traditional 1-year ARMs hit all-time record lows this week in our survey while activity in the housing market slowed in May following the expiration of the home-buyer tax credit," said Frank Nothaft, Freddie Mac vice president and chief economist, in a news release. "Freddie Mac began collecting rates for 30-year fixed loans in April 1971, 15-year fixed mortgages in September 1991 and 5-year hybrid ARMs in January 2005." --MarketWatch

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