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Friday, October 3, 2008

Mortgage Rates Hold Steady This Week

From Realtor Magazine Online, Daily Real Estate News October 3, 2008

Freddie Mac reports a small rise in the 30-year fixed mortgage rate to 6.10 percent during the week ended Oct. 2 from 6.09 percent the prior week.

The 15-year fixed mortgage rate nudged up to 5.78 percent from 5.77 percent.

However, the five-year adjustable mortgage rate slipped to 6 percent from 6.02 percent; and the one-year ARM dropped to 5.12 percent from 5.16 percent.

The report shows that the 30- and 15-year mortgage rates are down substantially from the same time in 2007, when they averaged 6.37 percent and 6.03 percent, respectively.

Source: Realty Times (10/03/08)
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