WASHINGTON – Jan. 9, 2009 – Rates on 30-year mortgages fell to a record level for a fourth straight week, dropping to the lowest mark since Freddie Mac started tracking the data nearly 28 years ago.
Rates have been falling since late November, when the Federal Reserve announced a plan to spend up to $500 billion to buy-up mortgage-backed securities in efforts to buttress the distressed U.S. housing market.
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