The national average on a 30-year fixed-rate mortgage dropped to 4.36 percent in Aug 2010 – lower
than it’s been in the past half century.
percent, representing a difference of $90 in the monthly payment on a $200,000 home with 10
percent down, as well as a savings of $32,460 over the life of the loan.Doug Duncan, Fannie Mae’s
chief economist, notes that
the current market is highly
favorable for home buyers.
“Interest rates are at historic
lows. It’s hard to imagine rates
going any lower than they are
now. House prices have come
down considerably, and if your
credit is good, there’s lots of
money available.”Interest rates for the same time last year averaged 5.19
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