Mortgage Rates at 2011 Lows

According to Freddie Mac a qualified buyer can now obtain a 30 year fixed rate mortgage at an average rate of 4.63%.  Despite the historically low rates and falling home prices, analysts say the combination isn’t likely to lift the depressed housing market or contribute to the overall economy.  In many metro areas, real estate is struggling under the weight of foreclosures, tighter credit, higher down payment requirements, high unemployment and buyers’ expectations of even lower prices.

Christian Science Monitor May 13, 2011