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FRIDAY, NOVEMBER 27, 2009
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30-Year Mortgage Rates Fall to Record Low 5.01%

Fed buys $10.2B in agency mortgage bonds

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(Newser) – Interest rates on 30-year fixed mortgages fell to a record low 5.01% this week, Bloomberg reports. The drop—the 10th weekly fall in a row—comes as the Federal Reserve purchased $10.2 billion of mortgage-backed securities from Fannie Mae, Freddie Mac, and Ginnie Mae as part of a program to stimulate the mortgage market and reduce rates. Fixed rates for 15-year mortgages fell to 4.62%.

Freddie Mac's corporate offices are seen in McLean, Va.
Freddie Mac's corporate offices are seen in McLean, Va.   (AP Photo)
Federal Reserve Chairman Ben Bernanke speaks on housing and housing finance, Thursday, Dec. 4, 2008, at the Federal Reserve in Washington.
Federal Reserve Chairman Ben Bernanke speaks on housing and housing finance, Thursday, Dec. 4, 2008, at the Federal Reserve in Washington.   (AP Photo/Jose Luis Magana)
The Fannie Mae building in Washington.
The Fannie Mae building in Washington.   (AP Photo)
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Federal Reserve • Freddie Mac • Fannie Mae • mortgage rates • interest rate • bond market • securities • mortgage backed securities

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