Mortgage Rates Ease Slightly
POSTED: 12:53 pm EDT August 18, 2005
UPDATED: 1:26 pm EDT August 18, 2005
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McLEAN, Va. -- Mortgage rates slipped this week, reversing a recent trend of gradual increases. Mortgage giant Freddie Mac said Thursday that the 30-year fixed-rate mortgage averaged 5.8 percent, down from last week when it averaged 5.89 percent. Frank Nothaft, vice president and chief economist at Freddie Mac, said the decline is more a fluctuation than a trend. Last year at this time, the 30-year mortgage averaged 5.81 percent. The average for 15-year mortgages this week is 5.4 percent, down from last week's average of 5.47 percent.A competing survey from Bankrate.com showed the 30-year fixed-rate mortgage average 5.88 percent, down from last week when it was 5.96 percent.The survey also had 15-year mortgages declining slightly from 5.56 percent to 5.50 percent.Bankrate.com said mortgage rates fell because recent economic reports led investors to believe that the economy is slowing due to high fuel prices.
Previous Stories:
- August 11, 2005: Mortgage Rates Close In On 6 Percent
- August 10, 2005: Housing Costs Price More Out Of Ownership
- August 9, 2005: Fed Boosts Interest Rates Another Quarter-Point
- August 4, 2005: Mortgage Rates Continue To Edge Higher
- July 28, 2005: Mortgage Rates Rise For Fourth Straight Week
- June 23, 2005: Mortgage Rates Keep Sliding
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