According to Freddie Mac, fixed rates for 30-year mortgages, were at an average of 5.47% for the week, ending Dec. 11. The previous week´s figure was 5.53% and the rate for this same time last year was a a high 6.11%. The decrease started after Nov. 25^th, when the government made a declaration that they would try a second time to boost the credit market in regards to consumer/mortgage lending, by with another $800 billion. More specifically, the Federal Reserve will buy up to $500 billion in mortgage backed securities with Fannie Mae, Freddie Mac, and Ginnie Mae. They will also purchase $100 billion in direct debt, that was issued by the above corporations.

Keith Gumbinger, the vice president of HSH Associates, reported that day after the government´s intentions were made public, rates for the 30-year fixed rate loans, dropped to 5.77%, and of course continued decreasing. The last time the rates were that low was in March 25, 2004, where it hit 5.40%. Gumbinger remarked that, "What we're seeing is a slight continued decline influenced by the Federal Reserve's announcement to buy half a trillion in mortgage backed securities,"...And this continued minor downdraft is also due to the poor economic climate."