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Lindley Estes is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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Mortgage rates dropping

Here’s some positive news for an industry desperate for a silver lining: U.S. mortgage rates are falling to their lowest levels in decades in the wake of the Federal Reserve’s decision to buy mortgage-backed bonds. Rates on 30-year fixed mortgages are hovering just above 5 percent now. That low rate could allow more people to afford a home, and give exisiting homeowners a way to refinance into more affordable terms.

Does this make you want to buy a house? If so, click here for an inventory of Fredericksburg-area homes.

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Permalink: http://news.fredericksburg.com/businessbrowser/2008/12/18/mortgage-rates-dropping/