Mortgage Rates Fell During Past Week
As worries of inflation subsided, the 30-year mortgage rate fell to 5.53 percent from 5.57 percent over the past week, Freddie Mac reports. Interest on 15-year loans fell as well, slipping to 5.12 percent from 5.16 percent during the same period.
However, the five-year hybrid adjustable mortgage rate rose to 5.06 percent from 5.05 percent, and the one-year ARM edged up to 4.24 percent from 4.23 percent.
"With still little or no threat of inflation to be found, long-term mortgage rates this week had some breathing room, and that allowed rates to drift a little lower," Freddie Mac Chief Economist Frank Nothaft says.
Source: Wall Street Journal (07/01/05)
However, the five-year hybrid adjustable mortgage rate rose to 5.06 percent from 5.05 percent, and the one-year ARM edged up to 4.24 percent from 4.23 percent.
"With still little or no threat of inflation to be found, long-term mortgage rates this week had some breathing room, and that allowed rates to drift a little lower," Freddie Mac Chief Economist Frank Nothaft says.
Source: Wall Street Journal (07/01/05)
posted by Susan VanSlyke at 6:03 AM
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