The interest rate on 30-year mortgages fell to a record low of 4.71 percent after the Federal Reserve injected $1.25 trillion into mortgage-backed securities as part of the government’s plan to reduce the cost of buying a home. Despite the low rates, qualifying for a loan remains difficult and lenders reserve the best rates for those with unblemished credit ratings and a full 20 percent down payment.
30 Year Mortgages At Record Low
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