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Mortgage Rates Drop Again

By: Huntsville Real Estate Expert Mike Manosky On March 2, 2007

FreddieMac.com has reported a lowering of interest rates for a second week in a row, according to its weekly Primary Mortgage Market Survey. Rates on a 30-year fixed-rate mortgage averaged 6.18 percent, down from last week’s 6.22 percent. 

“Mortgage rates drifted lower this week largely on the basis of new economic information suggesting a slower economy and lower inflation,” said Frank Nothaft, Freddie Mac vice president and chief economist.

Dropping rates coming into the spring market is every home buyers dream. Spring is prime buying season with more inventory to choose from and low interest rates are icing on the cake.

Are you planning to buy a home this spring? Then, visit HuntsvilleHomeHunter.com to have new homes on the market automatically emailed to your inbox. Or, to talk with me personally, call 800-239-4749 #4749.

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