Freddie Mac Reports Declining Mortgage Rates

By Kyle Chezum Updated on 1/13/2011

1/13/11

Without strong improvement in the job market, Treasury bonds have grown safer for investors.  This has driven yields on these bonds lower.  Mortgage rates, as always, are decreasing in tandem.  Rates on the 30 year fixed mortgage dropped to 4.71%, a four week low.

Freddie Mac issued a report on the rate decrease.  The drop has led to increased home purchase mortgage applications and a brief resurgence in refinance applications.

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