Mortgage Rates Hold Steady

Chicago Sun-Times (04/11/08)
The average interest on a 30-year, fixed mortgage held below the 6-percent threshold for the fourth consecutive week as 30-year rates remained at 5.88 percent this week, according to Freddie Mac. ''Once again, mortgage rates held relatively steady this week amid release of subdued economic data,'' said Freddie Mac chief economist Frank Nothaft, who cited a government report on the number of jobs that were eliminated by businesses last month. There was little movement involving the other mortgage rates, as 15-year, fixed loans held steady at 5.42 percent, five-year adjustable-rate mortgages fell 0.03 percent to 5.56 percent and one-year ARMs declined 0.01 percent to 5.18 percent.