---
title: Mortgage rates continue to slide...
description: Mortgage rates continue to fall to 5.01% last week.
---

[CHARLESGATE Blog ](https://www.charlesgate.com/blog)

# [Mortgage rates continue to slide...](https://www.charlesgate.com/blog/bid/7995/mortgage-rates-continue-to-slide)

 Written by [Michael DiMella](https://www.charlesgate.com/blog/author/michael-dimella) | Jan 12, 2009 5:00:00 AM

 

The Federal Reserve began its announced program of buying $500B worth of mortgage securities from Fannie Mae and Freddie Mac last week, driving mortgage rates even lower.  The nationwide average for a 30 year fixed rate loan, according to Freddie Mac, now stands at 5.01%, down from 5.10% the previous week - the 10th straight week of decline.

Locally, a few banks were advertising rates in the high 4%'s and a couple of our clients have even locked in at rates as low as 4.9% for purchases. 

Cheap money indeed.

[View full post](https://www.charlesgate.com/blog/bid/7995/mortgage-rates-continue-to-slide)

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