Mortgage Rates Drop on Equity Fears
- By:
- Bill Rice | Tue, 10/07/2008
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Mortgage rates continue to drop as fear seizes the equity markets. As the Dow plummeted as low as 800 points yesterday before recovering to just under 400 points down, money was flowing into the safety of government treasuries.
Expect more of the same today as UK and Asian markets were hit by the discussion of RBS, Barclays, and Lloyds TSB potentially needing $15 billion each from the UK government.
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National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 4.83 |
| 15 yr fixed |
4.39 |
| 5/1 ARM | 3.69 |
Rates may contain points
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