CHICAGO-Investors grow more concerned about the poor US economy as mortgage rates fall to record lows for the eighth time in nine consecutive weeks.
According to Freddie Mac, the mortgage giant, the average rate for 30-year fixed loans declined 4.42% from last week's 4.44%, the lowest since the mortgage buyer began tracking rates in 1971. Freddie Mac also reported that the average rate for 15-year fixed loans declined to 3.9% from last week's 3.92%, which is the lowest rate since 1991. For the full story, go to Chicago Sun-Times.
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