The 30-year fixed rate falls to 5.34%, as investors trade stocks for Treasurys following unveiling of bank bailout plan.

The article was post on February 12, 2009 at (New York - CNNMoney.com). According to this post, Mortgage rates fell during the past week, pushed lower from the uncertainty stemming from the bank bailout plan unveiled Tuesday. The average 15-year fixed rate mortgage sank to 5.03% from 5.31%, and the average jumbo 30-year fixed rate slipped to 6.98% from 7.12%. Adjustable rate mortgages also dropped over the past week, with the average 1-year ARM falling to 5.67% from 5.73% and the 5/1 ARM sinking to 5.37% from 5.5%.

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