Anyone who has been watching the mortgage market closely has seen a pretty constant decline in rates this month, following a small jump last month. Today, the 30 year mortgage rate national average hit 5.09% APR, the lowest it has been since it reached the same level last month on October 5th.
What Does This Mean For You?
Mortgage Rate National Averages at Lowest Point Since Early October 2009
No Relief In Sight Yet For Low CD Rates
CD rates this week continue to disappoint with more banks lowering their rates across all CD terms. As a result, weekly CD rate averages went down a few more basis points, with only the 36-month and 48-month CDs, hanging on to last week’s average.
Below is a quick summary of how CD rates fared on the average from July 13-17, 2009 in comparison to last week’s yields:
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