Mortgage Rates Plunge

As Congress and President Obama hammered out a debt deal over the past week, mortgage rates plunged — hitting new lows in some instances.

The 30-year fixed rate, usually the most popular choice for homebuyers, fell
to 4.45% from 4.57% last week — its lowest point since last November, according
to the Mortgage Bankers Association. Meanwhile, the rate on the less popular
15-year fixed plunged to a new record low of 3.52%, down from 3.67% a week
earlier.

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