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Released: August 09, 2011
Stock market’s silver lining for consumers
Source: Ylan Mui, Washington Post (Free Registration)
The stock market sell-off over the past week has created a surprising — albeit likely short-term — silver lining for consumers: ultra-low interest rates. The weekly average rate for a 30-year fixed mortgage has dropped to 4.39 percent, according to mortgage giant Freddie Mac, the lowest level this year. Mortgage brokers say that is fueling a boom in refinancing and piquing the interest of new home buyers who had been waiting on the sidelines.Read Full Article: Stock market’s silver lining for consumers
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