Mortgage Experts Unsure If Low Rates Will Boost Housing

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MINNEAPOLIS - In the wake of this week's sharp rate cut by the Federal Reserve Board, mortgage interest rates dipped to their lowest level in at least four years - perhaps presenting a strong opportunity for people who have been waiting to refinance adjustable- rate mortgages or those who have been waiting to buy.

This week, 30-year fixed-rate mortgages averaged 5.48 percent with 0.4 points, according to a national survey by Freddie Mac, a government-sponsored mortgage-finance company. The average 15-year mortgage stood at 4.95 percent, and the average five-year adjustable dropped to 5.13 percent.

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Mortgage Experts Unsure If Low Rates Will Boost Housing

Freddie Mac's chief economist, Frank Nothaft, suggested that low rates could ...

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