Sunday, January 13, 2008

Interest rates: high or low?

Even though there seem to be constant news stories about the mortgage industry, it can be tough to keep up with the current rates. If you are under the impression that the news is all bad, the following facts that may interest you.

According to the latest Primary Mortgage Market Survey, interest rates for 30-year fixed-rate mortgages (FRM - the most common type of mortgage) are at the LOWEST LEVEL since September of 2005! The 30-yr. fixed-rate average last week was 5.87%, down from the previous week when it averaged 6.07%. Last year at this time, the 30-yr FRM averaged 6.21%.

For more statistics about current rates, see my list of "Helpful Links" in the sidebar on the right.

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