Thirty year fixed mortgage rates dropped to a 37 year low this week to an average of 5.19%.

Time to refinance.

And, apparently well qualified buyers with great credit and a large down-payment will be able to find rates as low as 4.5%. According to the industry, mortgage brokers are receiving a surge of calls from interested buyers. It sounds like the measures that the Fed has been taking, at least on the mortgage front, seem to be working.

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