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8/26/10 * Mortgage Rates Fall To Record Lows*
NEW YORK – Mortgage rates fell to the lowest level in decades for the ninth time in 10 weeks, as concerns grow that the economy is weakening. These are the lowest since Freddie Mac began tracking rates in 1971. Rates have fallen since spring as investors shifted money into the safety of Treasury bonds, lowering their yield. The low rates have fueled borrowers to refinance their home loans. Refinancing is at its highest level since May 2009 and made up 82.4 percent of all new loan activity.
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