Summary Box: Fixed mortgage rates fall again
ASSOCIATED PRESS
Updated: May 26, 2011, 5:34 PM
RATES FALL AGAIN: Freddie Mac said fixed mortgage rates have reached new lows for the year to date for the third straight week.
LOWEST POINT FOR YEAR-TO-DATE: The average rate on the 30-year mortgage fell to 4.60 percent from 4.61 percent. That's the lowest point since mid-December. The rate on the 15-year fixed loan dipped to 3.78 percent from 3.80 percent. That marks the lowest level since late November.
HOUSING STILL HURTING: Sales of new homes rose in April from the previous month, but are down by almost a quarter from last year. The number of people buying previously occupied homes also is well below what economists consider healthy.
http://www.buffalonews.com/wire-feeds/24-hour-national-news/article435078.ece
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