Thursday, August 12, 2004

Mortgage rates fall to 4-month low

30-year fixed averages 5.85% in Freddie Mac survey

Mortgage rates dropped further below 6 percent this week as weak job growth hinted at economic stagnation, according to surveys conducted by mortgage buyer Freddie Mac and Bankrate.

In Freddie Mac's weekly survey, the 30-year fixed-rate mortgage averaged 5.85 percent, down from 5.99 percent a week earlier. This average was the lowest since early April. The 15-year fixed-rate mortgage dropped to 5.24 percent from 5.4 percent last week. Points on both the 30- and 15-year averaged 0.6.

One-year Treasury-indexed adjustable-rate mortgages held steady at 4.08 percent this week, with an average 0.6 point

Read more HERE

19 comments:

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p.s some very good points on your blog

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