Rock-bottom mortgage rates tempt hesitant home shoppers

The U.S. government's efforts to revive the housing market have helped push mortgage rates down to record levels, making homes more affordable for buyers hunting for a good deal in a soft market.

The average rate on 30-year fixed mortgages fell for the fifth straight week to 4.71%, Freddie Mac said Thursday. Read full story on declining mortgage rates.

Mortgage rates jumped last spring but have declined relatively steadily since then, with investors hoping the economy is on the mend after the credit crunch. Rates fell sharply in November.

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- Posted: 2009-12-03 13:50:55

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