Mortgage rates dip to new all-time low

The 30 year fixed rate fell to 5.01%, its lowest level since Freddie Mac started conducting its survey in 1971.

The 15 year fixed rate loan rate fell to 4.68% its lowest since 2003.

Mortgage rates have been declining for the last ten weeks since the Federal Reserve announced its decision to purchase mortgage backed securities from Fannie Mae on November 25, 2008.

Since November rates have dropped an average of 1 1/2 percent. That saves you $184 per month on a loan for $200,000!

http://money.cnn.com/2009/01/08/real_estate/mortgage_rates/index.htm?postversion=2009010811