Mortgage Rates Fall Again, Hit Lowest Level of the Year: Freddie Mac

Mortgage rates continued to inch down for the week ending May 13, 2010, hitting the lowest level seen so far this year, Freddie Mac reported Thursday. According to Freddie Mac’s Primary Mortgage Market Survey, 30-year fixed-rate mortgages averaged 4.93 percent with an average 0.7 point this week, down from last week’s average of 5 percent but still higher than a year ago at this time when rates averaged 4.86 percent. Freddie Mac said 30-year fixed-rate mortgages have not been this low since the week ending December 10, 2009, when rates averaged 4.81 percent.

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