Friday, January 9, 2009

Mortgages Are on Sale

The 30-year fixed rate declined to 5.01% for the week ended yesterday, the lowest level ever. I'm sure there's plenty of demand at 5%, not so sure about the supply.

It would be nice to see a large percentage of the remaining ARM's get refinanced in the next few months. a 5% fixed mortgage has got to be one of the prettiest numbers you'll see in this economic malaise.

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