30 Year Rates Drop Below 6 %

According to Freddie Mac’s Primary Mortgage Market Survey, interest rates on 30 year fixed-rate mortgages drifted back under 6% last week. The average contract rate was 5.97%  compared to 6.04% the week before.

The 15 year fixed-rate mortgage averaged 5.74%, up 0.01 from the week before.

The 5 year adjustable-rate mortgages dropped one basis point to 5.85%.  1 year ARM’s dropped from 5.29% to 5.18%.

Related posts:

1. 30 Year Mortgage Rates Fall Below 5%
2. Freddie Mac Chief Says Mortgage Rates Near Bottom
3. Mortgage Rates Rise as Foreclosures Increase
4. Mortgage Rates Drop as Unemployment Rises
5. Pending Home Sales Drop, Market Looks Bleak

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