Record-low rates in the U.S. fail to stimulate mortgage lending

06/25/2010 | Washington Post, The

Interest rates on residential mortgages have fallen to a historic low in the U.S., but homebuyers aren't rushing in to take advantage of them. Freddie Mac said the average rate on a 30-year fixed-rate mortgage declined to 4.69% this week, the lowest rate since the company started collecting such data in 1971. Mortgage applications and home sales continued to slide.

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