Mortgage rates hit record low, may fall further, an article from msnbc.com, reports that rates on 30-year mortgages plunged to a record low on Thursday following the launch of the Fed's new effort to revive the housing market. Yesterday, the national average rate on 30-year, fixed-rate mortgages was 4.94%, according to financial publisher HSH Associates. This is down nearly a quarter point from the day before - the lowest on HSH's records, which date back to 1979. Lenders have not pushed down rates as dramatically as some would have hoped. Many lenders have laid off workers in droves, leaving them with a limited capacity to keep up with the refinancing boom. "They're already swimming in applications," said Greg McBride, senior financial analyst with Bankrate.com.
http://www.msnbc.msn.com/id/7148582/
http://www.msnbc.msn.com/id/7148582/
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