Mortgage Rate Tumble

By:: Bill Rice - MortgageLoan.com

Mortgage rates continue to fall. Reacting to the Fed's move to slash the Fed rate 0.5 percent to 1.5 percent, mortgage rates continue to fall. Rates also continue to get downward pressure from the flight to safety as investors avoid the equities market and park cash in treasury bonds. As the market begins to stabilize on the increased recovery assistance to banks and markets, expect mortgage rates to continue to drop in the short-term.

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National Rates

Loan Type	Today	+/-
30 yr fixed	3.80
15 yr fixed	3.10
5/1 ARM	2.73

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