Mortgage Rates at Lowest Level of the Year

From Long-term mortgage rates fell to the lowest level of the year this week, after falling for five consecutive weeks. Freddie Mac’s weekly rate report puts the average 30-year fixed-rate mortgage at 4.93 percent in the week ending May 13, down from 5 percent last week.

Source: Washington Business Journal, Jeff Clabaugh,(05/17/2010)