Rates 5/23/03

Karen The Realtor.....Karen J. Archambault.....Karen The Realtor.....Karen J. Archambault.....Karen The Realtor.....Karen J. Archambault.....Karen The Realtor.....Karen J. Archambault.....Karen The Realtor.....Karen J. Archambault.....Karen The Realtor.....Karen J. Archambault.....Karen The Realtor.....Karen J. Archambault.....Karen The Realtor.....Karen J. Archambault.....Karen The Realtor.....Karen J. Archambault.....Karen The Realtor.....Karen J. Archambault.....Karen The Realtor.....Karen J. Archambault...

Rates 5/23/03
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WASHINGTON (AP) -- Rates on 30-year mortgages dropped to a new low this week, the seventh time that has happened this year.

The average interest rate on a fixed-rate 30-year mortgage fell to a record low of 5.34 percent, the second week in a row that rates on this benchmark mortgage dropped to an all-time weekly low, Freddie Mac, the mortgage company reported Thursday in its weekly nationwide survey.

This week’s rate surpassed the previous low rate of 5.45 percent set last week. The new rate marks the lowest since Freddie Mac began tracking 30-year mortgages in 1971. Records that reach back earlier indicate that the rate is the lowest in more than four decades, economists said.

Low mortgage rates propelled home sales to record levels last year. And, this year is shaping up to be the second-best year on record for sales of existing homes and new ones, economists say.

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"When You're # 1, You Can Do Things Others Can't" - Source: 2006 Ad Tracking Study. This survey included 1202 telephone interviews (via computer assisted program) with a national random sample of adults (ages 25-54) who have either bought or sold a home within the past two years or plan to purchase or sell a home within the next two years. Brand awareness questions are based on a sample size of 1202 respondents with a margin of error of +/- 2.4% at 90% confidence level. The study was conducted between March 6th-October 2nd, 206 by Millward Brown, a leading research organization.