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30-Year Mortgage Rates Slide

January 6th, 2008 8:59 AM by Ron Mastrodonato

30-Year Mortgage Rates Slide
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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http://www.realtor.org/RMODaily.nsf/pages/News2008010403?OpenDocument

Posted in:General
Posted by Ron Mastrodonato on January 6th, 2008 8:59 AM

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