Mortgage Rates Have Hit 52-year Low

In the wake of the Federal Reserve’s new effort to boost the housing market, rates on 30-year mortgages plunged this week to the lowest level on record.

Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dropped to 4.85 percent this week, from 4.98 percent last week. That is the lowest rate on record since December of 1956.

The Fed last week said it will pump $1.2 trillion into the economy in an effort to lower rates on mortgages and loosen credit.

Gilbert AZ Mortgages

Macy's Opens a New Store in SanTan Village

To the delight of Gilbert-area shoppers, SanTan Village has just added a Macy's department store. The unique outdoor shopping mall with indoor food court has taken a bit of a hit in traffic volume recently, as have most major retailers across the country, but it continues to be a great place for shopping, dining, and entertaining. And with the introduction of Macy's, it has just gotten better.

See the resources below for more information:

• Shoppers Flock to Macy's (East Valley Tribune)
• Macy's to Open One-of-a-Kind Store in Gilbert (East Valley Tribune)
• Macy's Launches a New Prototype Store at Gilbert Mall (Arizona Republic)
  
• Information about the Town of Gilbert, AZ