Interest on 30-year fixed home loans dropped below the 5 percent threshold this week, reports Freddie Mac. The rate slipped to 4.97 percent after averaging 5.01 percent last week and 5.16 percent a year ago.

Long-term mortgage interest set a record low of 4.71 percent in early December and has hovered near 5 percent since -- largely due to a Federal Reserve MBS purchase program, which is slated to end on March 31.

Source: Tacoma News Tribune