Mortgage Rates Fall to Lowest Level in Months

Mortgage rates fell to their lowest level in three months, according to Freddie Mac’s Primary Mortgage Market Survey. The 30-year fixed-rate mortgage averaged 5.12 percent with an average 0.7 point for the week ending August 20, 2009, down from last week when it averaged 5.29 percent. Last year at this time, the 30-year FRM averaged 6.47 percent.