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Mortgage Rates hit an All Time Low 4.69%

Average interest on a 30-year fixed mortgage fell to an all-time low of 4.69 percent this week, down from 4.75 percent a week ago, reports Freddie Mac.

Although rates have held below 5 percent since early May, Michael Fratantoni of the Mortgage Bankers Association notes that demand for purchase loans has fallen in six of the past seven weeks and now is at a 13-year low. Consumers have grown used to low rates, he explains, adding that they balk at buying because they are more concerned about stagnant wages and high unemployment.

Source: Washington Post, Dina ElBoghdady (06/25/10)

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Considering purchasing Traverse City real estate?  Please contact a Traverse City mortgage agent to get your financing pre-approval then contact Jon Becker - Traverse City real estate agent to assist you with your Traverse City real estate purchase.


Jon Becker - Century 21 Northland






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