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2310 Gulf Drive North, #206, Bradenton Beach, Florida 34217
2310 Gulf Drive North, #206, Bradenton Beach, Florida 34217
Beauty and the Beach!... Delightful, Direct Gulf Front, 2 bedroom/1 bathroom corner condo on beau...
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Key Royale Boat Dock, Holmes Beach, Florida 34217
Key Royale Boat Dock, Holmes Beach, Florida 34217
SOLD: Here is a great opportunity to own a rarely available 16' wide boat slip on a Key ...
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8027 Marina Isles Lane, Holmes Beach, Florida 34217
8027 Marina Isles Lane, Holmes Beach, Florida 34217
SOLD: Dolphin Watch . . . an exclusive and serenely private, luxury, bay front residence of ...
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907 North Shore Drive, Anna Maria, Florida 34216
907 North Shore Drive, Anna Maria, Florida 34216
SOLD: Old Florida charm opens to big, beautiful, bay views from this 3 bedroom / 3 bathroom ...
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6 Lakeview Place, Anna Maria, Florida 34216
6 Lakeview Place, Anna Maria, Florida 34216
Tucked away on a quiet cove off Lake La Vista in the village of Anna Maria is this magnificently ...
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Mortgage Rates Drop to Lowest Level In Five Decades

Alan Zibel
The Associated Press
July 2, 2010

WASHINGTON – July 2, 2010 – Mortgage rates have sunk to the lowest level in more than five decades, but consumers aren’t rushing to refinance their loans or buy homes.

Mortgage company Freddie Mac said Thursday the average rate for 30-year fixed loans sank to 4.58 percent this week.

mortgagerateart

That’s down from the previous record of 4.69  percent set last week and the lowest since the  mortgage company began keeping records in 1971.  The last time they were cheaper was the 1950s, when  most long-term home loans lasted just 20 or 25  years.

Rates have fallen over the past two months. Investors wary of the European debt crisis and the stock market have shifted money into the safety of Treasury bonds, driving down yields. Mortgage rates tend to track the yields on long-term Treasury’s.

On Wednesday, the yield on the benchmark 10-year Treasury note dropped to 2.95 percent. That was the first time it has fallen below 3 percent since April 2009, when the markets were beginning to recover from the financial crisis.
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