Mortgage rates plunge after Fed decides to print money

03/20/2009 | Washington Post (tiered subscription model), The

The average interest rate on 30-year, fixed-rate home mortgages dropped to 4.94% after the Federal Reserve announced its decision to inject $1.2 trillion into the U.S. economy, according to HSH Associates. The drop marks the first time the rate has fallen below 5% since 1979, when the financial publisher began keeping records.

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Washington Post (tiered subscription model), The

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