The Sky Is Falling!

June 24th, 2010

Mortgage rates fell this week to the lowest level on records dating to 1971, giving consumers added incentive to lock in low payments for home purchases and refinanced loans.

The average rate for 30-year fixed loans sank to 4.69 percent, from 4.75 percent last week, mortgage company Freddie Mac said Thursday.

Of course they fail to mention that home sales also dropped 33%. Oops.

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