Mortgage rates fall below 5%
Largely in response to the Fed’s promise of injecting more money into the economy by buying over $1 trillion worth of Fannie and Freddie mortgage backed securities (MBS), the 30-year fixed rate mortgage fell to below 5% today:
By the close of business on March 19, the 30-year conforming FRM fell to 4.94%, according to Keith T. Gumbinger, a VP at HSHAssociates.com. That’s a fall of nearly a quarter percent since Wednesday.


