Rates on 30 year Mortgages Drop Sharply

Mortgage Rates Drop Sharply:

"Rates on 30-year mortgages fell to the lowest level in six weeks as financial markets grew more hopeful that the Federal Reserve will boost the sluggish economy by cutting interest rates further. Kentucky Insurance

Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages fell to 6.33 percent this week, down from 6.40 percent last week. It was the lowest level since 30-year mortgages dipped to 6.31 percent on Sept. 13, which had been the lowest point since last May..." Mortgage Rates Drop