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26 Aug 09 US Mortgage Rates Remain Low

Mortgage interest rates fell in the latest week to their lowest levels since the end of May, following a drop in Treasury yields on concerns over the pace of economic recovery, Freddie Mac said on Thursday.  In a recent article, mortgage executive, Scott Deal reported that “The Fed and US government were doing everything in their efforts to ensure American consumers had access to low mortgage rates.

FHA mortgage rates remianed at 5.25% for thirty year home mortgages and jumbo mortgage loans continued to see higher interest rates as the insurance companies continue to voice concerns over delinquencies and loan modifications plans.

The average 30-year fixed home loan rate fell to 5.12 percent from 5.29 percent in the prior week. The 30-year rate was 6.47 percent a year ago.  15-year mortgage loans averaged 4.56 percent, down from 4.68 percent in the previous week and 6.00 percent a year earlier.

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