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Here we go again.  Baltimore mortgage rates on fixed mortgages dropped to record lows this week after the Federal Reserve unveiled its huge bond-buying program to help stimulate economic growth.

Freddie Mac says that the average rate on 30-year fixed loans fell to the lowest level on record dating back to 1971.

The average rate on 15-year fixed loans fell the lowest levels since the survey began in 1991.

The Federal Reserve unveiled plans last week to purchase $600 billion in Treasury bonds. On Wednesday, the central bank elaborated on that plan, saying that it hopes to buy $105 billion in Treasurys over the next month. The increased demand means that Treasurys will produce lower yields for investors. Mortgage rates often move along with those bond yields.

Rates on five-year ARMs hit their lowest levels since January 2005.  Rates on one-year ARMs were unchanged.

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A Baltimore woman who is losing her home to foreclosure began a hunger strike on Monday to draw attention to the national foreclosure crisis and the difficulty people face when trying to modify mortgages.

“This is not about my story anymore, it’s about representing a lot of people who are going through this,” says Lauren Rymer, 32. “Homeowners aren’t experts and we can’t navigate the system. This is an impossible system to navigate.”

Rymer’s hunger strike and protest across from the Maryland State House in Annapolis has been effective; aside from news coverage, Rymer said she has been contacted by an official from Gov. Martin O’Malley‘s office about her situation. She is now hoping to hand over the deed in lieu of going through the foreclosure process. She said she’ll eat if it looks like that process is going to work out.

Related articles

• Lauren Rymer, Baltimore Homeowner, Starts Hunger Strike To Protest Foreclosure (huffingtonpost.com)

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The number of homes selling in Baltimore fell 30 percent last month compared with 12 months ago, when buyers were trying to beat the deadline for $8,000 in incentives.

Average sale prices fell about 1.4 percent to just beneath $272,000, according to figures released by Metropolitan Regional Information Systems (MRIS).

Honebuyers closed on 1,560 homes in the greater Baltimore area, down from the 2,219 that sold 12 months ago.

Sales in October 2009 were bolstered by homebuyers who thought they had only until November 30 of that year to settle on contracts if they wanted the first-time home buyer tax credit.  That a deadline that was later extended into 2010.