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Rates on 30 Year Mortgages Decline to 4.37%

07/19/2013

Rates on 30 year mortgages declined to 4.37% down from 4.51% last week.

In even better news, not one mortgage analyst polled by bankrate.com thought rates would increase in the short term. More than half or 56% thought rates would decline further and 44% thought they would remain stable.

That's a good thing because low rates are helping to stimulate the housing industry which in turn is helping to grow the economy. Rates increased when Ben Bernanke stated the Federal Reserve may slow its bond purchases this year. It really is amazing how much statements from the Federal Reserve Chairman can impact the mortgage market.

This link will take you to the full article on the interest rate declines.

 Reprinted with permission. Florida Realtors®. All rights reserved. 

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