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Another week for low rates

By Holden Lewis ·
Thursday, September 30, 2010
Posted: 10 am ET

The 30-year fixed was unchanged this week, tying last week's record low of 4.5 percent in Bankrate's weekly survey.

When I say "record low," I mean the record in the 25-year history of Bankrate's survey. Mortgage rates were lower back when Elvis Presley was trying to get a record deal.

As I point out in this week's mortgage analysis, borrowers are required to supply more paperwork now than four or five years ago. If you have a good credit history, and your home's value is high enough, you can qualify for a mortgage refi. But the paperwork requirements are going to be a pain.

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