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Monday, March 30, 2009

Mortgage rate drop helping in Nevada

MSNBC

‘Twas the day after Christmas and for some Nevada residents, rate drops mean change may come - and not just in presidents.

Interest rates for 30-year fixed mortgages dropped nationally for the eighth week to reach 5.14 percent, the lowest on record since Freddie Mac (the Federal Home Loan Mortgage Corp.) began a weekly rate survey in 1971. So loans are being written.

"I think these low rates are getting a lot of people off the fence," said Stephanie Hanna, a loan officer with Platinum First Mortgage of Reno. "We definitely have seen it pick up in December and we've got good momentum going into the new year."



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