Sunday, October 24, 2004

Mortgage rates slip to 6-month lows

Spurs rise in home loan applications

Long-term mortgage rates eased this week, according to surveys released by Freddie Mac and Bankrate.

The 30-year fixed-rate mortgage averaged 5.69 percent, with an average 0.7 points, for the week ended today, down from last week when it averaged 5.74 percent. The average for the 15-year fixed-rate mortgage this week fell to 5.07 percent, with an average 0.6 points, down from 5.14 percent. Rates on one-year adjustable-rate mortgages averaged 4.02 percent this week, with an average 0.7 point, up slightly from last week when it averaged 4.01 percent.

"Treasury bond yields eased somewhat this week, causing long-term mortgage rates to drift a little lower from last week," said Frank Nothaft, Freddie Mac chief economist. "Mortgage rates for 1-year adjustable-rate mortgages, however, were almost unchanged, rising only one basis point in the same time frame.

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10 comments:

Anonymous said...

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Anonymous said...

Hey Blogger. Very nice blog :0) I just got inside from washing and waxing my truck. It is my baby. Took me 2 hours though. So I settled down into my basement and started doing some web surfing. Anyways I am in the process of grabbing my masters degree and have spent the last 6 months researching hybrid adjustable rate mortgages . In the midst of my surfing I landed smack dab in the middle of your blog. I hope you do not think I am intruding but I must say it is great blog. Even though Mortgage rates slip to 6-month lows is way off base from hybrid adjustable rate mortgages I found myself cruising through your blog archives for the last half hour :0) You have some nice blogging friends. Anyways, I need to get back to my mission. I wrote don’t your url and feel free to visit me here at hybrid adjustable rate mortgages . I am so busy so I can only update my site monthly. Keep up the great work.

Anonymous said...

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Anonymous said...

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