Mortgage rates drop to a four-year low

Freddie Mac says national average for a 30-year-fixed is 5.47 percent

Rates on 30-year-fixed mortgages dropped this week to their lowest levels in more than four years, effects of a startling November unemployment report and a government plan to buoy the housing market.

Freddie Mac reported Thursday that average rates on 30-year fixed-rate mortgages dropped to 5.47 percent, down from 5.53 last week. The rate is slightly below this year's previous low of 5.48 percent during the week of Jan. 24, and the lowest since March 25, 2004, when it averaged 5.40 percent.
Source: msn.com

For more information on Mortgage Rates, Please contact: David Homuth, TIB Bank, 239-250-8889

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