30 year fixed rate average 5.96 lowest in 2 years.
December 9th, 2007 at 9:32 PM by Bill Zinsser, Las Vegas REALTORRates on 30 year mortgages fell sharply again this week, dropping to the lowest level in more than two years.
Freddie Mac the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 5.96 percent. That was down from 6.10 percent last week and was the lowest rate since the week of Sept. 29, 2005, when they averaged 5.91 percent.
Analysts attributed the decline to worries about what a severe slump in housing and a lingering credit crunch could do to consumer confidence and the overall economy.
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