Mortgage Rates Again Drop to New Record-Lows

Just how low can mortgage interest rates go? Lately it seems like there’s no bottom in site. For months now, rates have been falling to new record-lows week after week, and this week, they headed even lower.

Freddie Mac reported Thursday that for the week ending August 12, 2010, interest rates for 30-year fixed-rate mortgages (FRM) averaged 4.44 percent (0.7 point). That’s down from last week’s average of 4.49 percent. Last year at this time, the rate for a 30-year FRM came in at 5.29 percent.

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