The 30-year fixed-rate mortgage averaged 5.9 percent in Freddie Mac's latest Primary Mortgage Market Survey. The 30-year plunged 42 basis points from last week to its lowest level since the week ended April 17 -- when it stood at 5.9 pecent. The average 30-year was 6.3 percent 12 months ago. The average 15-year fixed-rate mortgage fell 43 BPS from a week earlier.
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Welcome to Mortgage-Lending-News.Com. The United States Mortgage Industry is at a crossroads. Hundreds of billions in loans and real estate valuations have been lost due to the sub-prime mortgage crisis. Even worse, billions more are at risk during the first half of 2008, as even more adjustable rate mortgages reset their rates. Hardly a day goes by that we don't hear of a foreclosure crisis in the news. Quite simply, there is too much news for us to keep up with, so we built this Mortgage site, initially as a means for us to internally follow what is going on in the mortgage industry. Now, we are sharing it with you.
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