30-Year Mortgage Rates Slide

Posted by Leslie Bauer on Monday, January 7th, 2008 at 1:02pm.

Daily Real Estate News  |  January 4, 2008
30-Year Mortgage Rates Slide
Spurred in part by unexpectedly weak economic data that could signal an impending recession, borrowing costs on long- and short-term home loans dipped during the past week.

Freddie Mac's statistics show a decline in interest on 30-year fixed loans to 6.07 percent from 6.17 percent last week, while 15-year fixed rates slid to 5.68 percent from 5.79 percent.

Adjustable-rate mortgages also registered lower interest, with five-year loans settling at 5.78 percent compared to 5.9 percent a week earlier and one-year products coming in at 5.47 percent for the week, down from 5.53 percent the week before.

Source: San Jose Mercury News (Calif.), Martin Crutsinger (01/04/08)

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