Mortgage rates at, near record lows

Demand for refis booms as lower limits for Fannie, Freddie, FHA loom

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Mortgage rates sank to or near all-time lows this week as turmoil in financial markets had investors moving money into the relative safety of bonds and mortgage backed securities that fund most home loans.

Rates on 30-year fixed-rate mortgage hit a low for the year, averaging 4.32 percent with an average 0.7 point for the week ending Aug. 11, Freddie Mac said in releasing the results of its latest Primary Mortgage Market survey.