By Mar 26, 2009, 1:06 PM 

Another new low set for long term mortgages. Freddie Mac (FRE) today said interest rates on 30-year fixed-rate mortgages averaged 4.85% for the week ending March 26, down from the previous week’s 4.98%. The rate broke the previous record low of 4.96% set 10 weeks earlier and is the lowest since Freddie Mac started the Primary Mortgage Market Survey in 1971.

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