The average rate for a 30 year fixed loan sank to 4.69% this week according to Freddie Mac. Rates are at the lowest point since Freddie Mac began keeping records in 1971. Mortgage rates are actually at their lowest point since the 1950s.

Why is this important to know? As home buyers, we naturally focus so much attention on price. But the interest rate can have a huge impact on the monthly payment.

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