Feddie Mac reports a drop in the 30-year fixed mortgage rate to 4.98 PERCENT during the week ended March 19 from 5.03 percent the prior year, marking the lowest rate since 4.96 percent in mid-January. Experts say rates could fall further in response to the Federal Reserve’s announcement that it will add $1.2 trillion to the economy to alleviate the credit crisis.
[SOURCES: Freddie Mac; Information, Inc.]
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