Posted by PAW on 10/23/08 9:32am
Msg #268016

Fixed-rate mortgage rates decline

NEW YORK (MarketWatch) -- U.S. fixed-rate mortgages declined in the latest week, according to Freddie Mac's survey released Thursday. The national average interest rate on the benchmark 30-year, fixed-rate loan averaged 6.04% in the week ending Thursday, down from last week's 6.46% and the year-ago 6.33%. The 15-year fixed-rate loan averaged 5.72%, down from the week-ago 6.14% and the year-ago 5.99%. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 6.06%, compared with 6.14% a week ago and 6.03% a year ago. One-year Treasury-indexed ARMs averaged 5.23% this week, up from last week's 5.16% and down from the year-ago 5.66%. "Long-term mortgage rates fell this week amid news of tame inflation and a weaker housing market," said Frank Nothaft, Freddie Mac vice president and chief economist.

Reply by Stamper_WI on 10/23/08 9:55am
Msg #268019

Just did status report for a local realtor which includes local interest rates. The smaller banks have gone up this week. Avg 6.5% for 30 yr fixed and 6.225% for 15 yr fixed.