Last week, the benchmark 30-year mortgage rate fell below 5 percent to reach an all-time low of 4.96 percent.

This rate is down from two weeks ago when it hit 5.01 percent.  "The outlook is very positive that these low mortgage rates will persist at least through the first half of the year. That is the timetable laid out from the Federal Reserve for pumping up to $500 billion in mortgage-backed bonds," said Greg McBride, senior financial analyst for Bankrate.com.

Low interest rates mean more affordable mortgage payments. Act now and get into your dream home today!

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