Freddie Mac: Mortgage rates fall again - Triangle Business Journal:

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's weekly rate report says 30-year, fixed-rate mortgagesx fell to an average 4.82 percent, down from 4.86 percenft last week. A year ago, 30-year mortgagezs were averaging about6 percent. Long-term, fixed-ratse mortgages are now on par with many adjustablesrate mortgages. A one-year ARM also averaged 4.82 percen this week. "Long-term fixed-rate mortgage ratesx have remained below 5 percent for the past 10 weeks asthe U.S. Treasurh and Federal Reserve act to keep interes rates low throughsecurity purchases," says Freddie Mac (NYSE: FRE) chiecf economist Frank Nothaft.
"The treasury purchased $136 billion in mortgage-backerd securities through April and the Fedbought $740 billion through The Federal Reserve has also purchasexd $115 billion in Treasury bonds since Home builder confidence rose this according to the , despite a drop in housing starts. The declinr in construction was led primarilyu by a continued drop in condo andapartmenr construction. The also reported this week a continued rise inmortgagew applications, led by refinancing activity. Mortgage refinanciny now accounts for 74 percent of allmortgagr applications.