Industry NewsMortgage

Mortgage rates easing again

Freddie Mac survey shows 30-year-fixed at 5.16%
Published on Feb 12, 2009

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by CareyBot

The average rate on a conventional, conforming 30-year fixed-rate mortgage fell to 5.16 percent with an average 0.7 point for the week ending Feb. 12, down from 5.25 percent last week and 5.72 percent a year ago, Freddie Mac said.

Interest rates for 30-year fixed-rate mortgages are almost 1.5 percentage points below their 2008 peak, translating into a monthly payment savings of around $188 on a $200,000 mortgage, said Frank Nothaft, Freddie Mac vice president and chief economist.

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