MBA: Mortgages rates hit record lowNews added by ProWEB Media on August 11, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

The Mortgage Bankers Association reports that 30-year loan rates last week fell to 4.57 percent -- the lowest level in 20 years.

This contract rate, which excludes added lender fees and points, was down from 4.60 percent the week previous and 5.38 percent compared to the same period last year.

Meanwhile, findings indicate that, in the period examined, mortgage purchase and refinancing applications rose by less than 1 percent.
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