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Mortgage Rates Plunge Following Fed Funds Rate Cut

By KELLY CURRAN

Mortgage rates hit rock-bottom this week following a key cut in the federal funds target, as the average 30-year fixed-rate mortgage sat at 5.19 percent #8212; the lowest rate ever recorded by Freddie Mac (FRE: 0.69 -2.82%), who began tracking rates in 1971 #8212; with an average 0.7 point.  That#8217;s down from last week#8217;s 5.47 [...]img src="http://feedproxy.google.com/~r/HousingWire/~4/t-F60yV4HUQ" height="1" width="1"/

Full post as published by Housing Wire on December 18, 2008 (boomark / email).