Mortgage rates fall for 4th week in row
WASHINGTON -- Rates on 30-year mortgages fell for a fourth consecutive week as a slowing economy eased concerns about inflation.
Mortgage giant Freddie Mac said Thursday that 30-year, fixed-rate mortgages fell to 6.52% this week, down from 6.55% last week.
That was the lowest level for 30-year mortgages since they averaged 6.49% the week of April 13.
Mortgages had been rising since that time, hitting a more than four-year high of 6.80% the week of July 20, before falling in the last four weeks.
Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, averaged 6.20% this week, unchanged from last week.
For one-year adjustable-rate mortgages, rates dipped to 5.65%, down from 5.69% last week.
Rates on five-year adjustable-rate mortgages fell to 6.18% this week, from 6.21% last week.
Mortgage giant Freddie Mac said Thursday that 30-year, fixed-rate mortgages fell to 6.52% this week, down from 6.55% last week.
That was the lowest level for 30-year mortgages since they averaged 6.49% the week of April 13.
Mortgages had been rising since that time, hitting a more than four-year high of 6.80% the week of July 20, before falling in the last four weeks.
Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, averaged 6.20% this week, unchanged from last week.
For one-year adjustable-rate mortgages, rates dipped to 5.65%, down from 5.69% last week.
Rates on five-year adjustable-rate mortgages fell to 6.18% this week, from 6.21% last week.
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