The 30 year rate for the week ending May 24, 2012 was 3.78%. this is down from the previous week of 3.79%. The Federal Reserve Board has not however announced whether it will continue to purchase long-term Treasury bonds. This is a key factor in keeping mortgage rates low. In New Jersey, home sales increased 25% percent the first four months of the year, largely because of reduced home prices, low interest rates, and increasing consumer confidence. (Souce: Asbury Park Press May 25, 2012)
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