Tuesday, April 12, 2005

Mortgage rates go ... down!

Freddie Mac reports that for the week ending April 7, the average interest rate on a 30 year fixed rate loan was "...5.93 percent, with an average 0.7 points.." The week before the average was 6.04%. Freddie Mac's chief economist attributes this to "...news that job creation in March came out much lower than had been expected..." which indicates "...there is less money being spent and therefore, less inflationary pressure on the economy."

For more information, please go here.

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