Mortgage Rates Down 0.75%

By:: Bill Rice - MortgageLoan.com

Mortgage rates dive nearly a full percent. The 30-year fixed-rate mortgage drops to 5.5 percent in one of the largest single-day dips since 1988. Directly, reacting to the US Treasury and Federal Reserve's $600 billion new stimulus--banks move to unfreeze credit by repricing immediately and dramatically.

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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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