Summary Box: Mortgage rates drop to 4.42 pct. – Yahoo! News
October 16, 2010 by
Filed under Mortgage Loan Modification
Summary Box: Mortgage rates drop to 4.42 pct. – Yahoo! News
RATES SINKING: The average rate for 30-year fixed loan fell this week to 4.42 percent, mortgage buyer Freddie Mac said. Analysts say they could dip below 4 percent if the economy worsens.
ANOTHER DROP: It was the eighth time in nine weeks that rates have fallen to the lowest level since Freddie Mac began tracking rates in 1971.
RECOVERY SLOWS: Investors fear the recovery is slowing and are pouring money into U.S. Treasury debt. That lowers Treasury yields, which mortgage rates track.
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