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Mortgage Rates Hit Record Low: Freddie Mac Survey 

Dec 24, 2008By

Long-term mortgage rates fell for the eighth consecutive week, setting another record low, Freddie Mac [stock FRE][/stock] reported early Wednesday. 30-year, fixed-rate mortgages averaged 5.14 percent with an average 0.8 point for the week ending Dec. 24, 2008, the GSE reported, down from last week when it averaged 5.19 percent. (Those are stunningly low rates, folks.) Last year at this time, the 30-year FRM averaged 6.17 percent; rates have not been lower since Freddie Mac started its Primary Mortgage Market Survey in 1971, the GSE said in a press statement.

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