Mortgage rates dropped sharply this week, possibly improving the purchasing power of many home buyers. The 30-year fixed-rate mortgage, the most popular choice among buyers, averaged 4.39 percent this week, its lowest average for 2011, Freddie Mac reported in its weekly mortgage market survey. The 15-year fixed-rate mortgage and the 5-year adjustable rate-mortgage also both reached new historical record lows.
Rates mostly dropped across the board amid signs of a weakening economy, Freddie Mac says.
http://realtormag.realtor.org/daily-news/2011/08/05/mortgage-rates-reach-reco...
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