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LONG-TERM RATES FALL TO LOWEST LEVEL IN FIVE WEEKS 30-Year FRM Below 5 Percent For Five Of The Last Seven Weeks

UPDATE: Nov. 13, 2009 LONG-TERM RATES FALL TO LOWEST LEVEL IN FIVE WEEKS. 30-Year FRM Below 5 Percent For Five Of The Last Seven Weeks .
“Mortgage rates eased further over the week, helping to promote an affordable home-purchase market and stimulate refinance,” said Frank Nothaft, Freddie Mac vice president and chief economist. “This comes at a time when house price declines are moderating and consumer demand for prime mortgages at commercial banks has picked up. “The National Association of Realtors® reported that national median sales price of existing homes fell 11.2 percent in the third quarter relative to the same period last year,. Moreover, almost 20 percent of the top metropolitan areas experienced
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Posted Friday Nov 13