From Deseret News archives:

30-year mortgage rates fall from 6.02% to 5.88%

Published: Thursday, Dec. 11, 2003 6:53 p.m. MST
 |  E-MAIL | PRINT | FONT + - 
WASHINGTON (AP) — Rates on 30-year and 15-year mortgages moved down this week, good news for people interested in buying a home.

For the week ending Dec. 12, the average rate on 30-year, fixed-rate mortgages fell to 5.88 percent, down from 6.02 percent the previous week, Freddie Mac, the mortgage giant, reported Thursday in its weekly nationwide survey of mortgage rates.

Rates on 30-year mortgages slid to 5.21 percent, the lowest level in more than four decades, in the middle of June. Since then, rates on these benchmark mortgages have bounced up and down.

For 15-year fixed-rate mortgages, a popular option for refinancing, the average rate dropped to 5.24 percent, down sharply from 5.36 percent last week.

Rates for one-year adjustable mortgages, however, averaged 3.77 percent, unchanged for the third straight week.

A year ago, rates on 30-year mortgages averaged 6.04 percent, 15-year mortgages were 5.46 percent and one-year adjustable mortgages stood at 4.18 percent.

The nationwide averages for mortgage rates do not include add-on fees known as points. Thirty-year loans carried an average fee of 0.7 point this week. Fifteen-year and one-year adjustable rate mortgages each carried an average fee of 0.6 point.

Comments

You can be the first to comment on this story.

previousnext

Latest comments

Thunder rolls by Jazz

may have a point. A smaller faster line up may have stopped some of the 3s....

Also, don't conservatives see the silliness of trying to compare Palin with...

Utes set to welcome Seattle

My point exactly. I'm sure the power teams such as Seattle looking for their...

RSL defied doubters to win title

Excellent work gentlemen- may you bring home many more MLS cups.

I actually have not seen an episode of this show, but congrats to Donny. What...

"I also think many confuse Obama's ability to speak with actual...

Thunder rolls by Jazz

re:re: I agree this is a fan blog and no better way to let off some steam....

Thunder rolls by Jazz

Sorry the obvious is painful for you. It is way past time the Jazz joined the...

Thunder rolls by Jazz

At the risk of sounding like a broken record, 2 minutes for Fesenko? Are you...

Can you show me where it’s working? The first rule in good business or...

Advertisements