Plummeting Mortgage Rates Near Record Low

Rate for 30-year mortgage again below 5%
Posted Mar 19, 2009 12:03 PM CDT
Plummeting Mortgage Rates Near Record Low
In this May 2, 2007 file photo, the Fannie Mae building in Washington is seen.   (AP Photo/Manuel Balce Ceneta, File)

Interest rates for fixed-rate mortgages decreased this week, with the rate for a 30-year mortgage falling 0.05% to an average 4.98%, near January’s record low of 4.96%, MarketWatch reports. Thirty- and 15-year mortgage rates are down nearly a full percentage point from a year ago. The fall in rates comes a day after the Fed announced it would buy Treasuries to depress lending costs.
(More mortgage stories.)

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