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Through the constant onslaught of dire news in the mortgage markets, did you notice that the average 30-year fixed-rate, conforming mortgage rate was 6.20% according to Freddie Mac?
Compare this with the average rates each year since 2000:

Period
Rate

November 21, 2007
6.20%

2006
6.41%

2005
5.87%

2004
5.84%

2003
5.83%

2002
6.54%

2001
6.97%

2000
8.05%

Not too bad!
Of course, lending guidelines are now more strict. It’s more difficult and more expensive to [...]