Global risk aversion pushes down U.S. mortgage rates

05/28/2010 | Washington Post, The

Interest rates on residential mortgages in the U.S. are closing in on an all-time low, thanks to financial turmoil in Europe and high volatility on the stock market. This week, the average interest charged on a 30-year fixed-rate loan fell to 4.78%, slightly more than a record 4.71% reached in December. Refinancing applications have also reached their highest level in seven months.

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