Mortgage Rates Dip After 5-Week Rise
POSTED: 2:39 pm EDT July 13, 2006
UPDATED: 2:45 pm EDT July 13, 2006
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MCLEAN, Va. -- For the first time in five weeks, mortgage interest rates have been sliding. Freddie Mac said Thursday that the average for 30-year, fixed-rate mortgages stood at 6.74 percent, down from 6.79 percent last week. The finance giant's chief economist, Frank Nothaft, said the modest decline reflects a weaker-than-expected June jobs report, and the expectation the Federal Reserve is nearly finished hiking short-term rates. Rates also declined for other types of mortgages this week, according to the Freddie Mac survey. Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, fell to an average 6.37 percent from 6.44 percent last week. Rates on one-year adjustable-rate mortgages slipped to 5.75 percent from 5.83 percent last week.
Previous Stories:
- July 6, 2006: Mortgage Rates Inch Higher Again
- June 29, 2006: Mortgage Rates Rise Again
- June 15, 2006: Mortgage Rates Rise On Fed Rate Worries
- June 8, 2006: Long-Term Mortgage Rates Dip
- June 1, 2006: Mortgage Rates Near 4-Year High
- May 19, 2006: Long-Term Mortgage Rates Up Again
- May 4, 2006: Mortgage Rates Up For 6th Week
- March 23, 2006: Mortgage Rates Slide For Second Straight Week
- February 23, 2006: Long-Term Mortgage Rates Fall
- January 19, 2006: Mortgage Rates Fall To 3-Month Low
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