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Friday, January 4, 2008

30-Year Mortgage Rates Slide

From Realtor Magazine Online, Daily Real Estate News January 4, 2008

Spurred in part by unexpectedly weak economic data that could signal an impending recession, borrowing costs on long- and short-term home loans dipped during the past week.

Freddie Mac's statistics show a decline in interest on 30-year fixed loans to 6.07 percent from 6.17 percent last week, while 15-year fixed rates slid to 5.68 percent from 5.79 percent.

Adjustable-rate mortgages also registered lower interest, with five-year loans settling at 5.78 percent compared to 5.9 percent a week earlier and one-year products coming in at 5.47 percent for the week, down from 5.53 percent the week before.

Source: San Jose Mercury News (Calif.), Martin Crutsinger (01/04/08)
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