Mortgage rates fall to lowest levels since May

07/17/2009 | Bloomberg

The average 30-year mortgage rate fell to 5.14%, its lowest level since May, according to Freddie Mac, while the 15-year rate dropped to 4.63%. The lower levels were attributed to increased refinancing activity. "It's been stuck in this low-five range for a number of weeks. This is still a good interest rate," said Donald Rissmiller, chief economist at Strategas Research Partners.

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