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Excerpt from:  Greater Phoenix trends and statistics
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December 03, 2007

Mortgage Interest Rates Hit a 2 Year Low.

November ended with rates at their lowest point in 2 years.
The week of Nov. 29th ended with mortgage rates at a 2 year low.  The 30 year fixed mortgage rate stood at 6.1% while the 15 year fixed rate fell to 5.75%.
(Freddie Mac)

The mortgage interest rates are not a problem of the housing market.  These are exceptionally low rates and still represent cheap money.  The biggest problem is that lenders are hesitant to lend money, raising the bar for home buyers to qualify for better or worse. 

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by Artur Ciesielski | ↑top | link to this#
by The Artur and Joanna Real Estate Team
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