WASHINGTON (AP/WMOT) — Average U.S. rates on fixed mortgages have fallen to fresh record lows for the second straight week. The declines suggest the Federal Reserve's stimulus efforts are having an impact.
Mortgage buyer Freddie Mac says the rate on the 30-year loan dropped to 3.36 percent, the lowest rate since long-term mortgages came into use in the 1950s.
The Fed is spending $40 billion a month to buy mortgage-backed securities. The goal is to lower mortgage rates and help the housing recovery.
MURFREESBORO, Tenn. (WMOT) -- Enrollment at most of Tennessee’s public colleges and universities is down significantly this fall.
The Tennessee Board of Regents system is reporting a decline in full-time equivalent (FTE) enrollment of 4.4 percent from fall 2011. TBR’s six universities and 13 colleges are all showing flat or falling enrollment.