Friday, May 30, 2008

Mortgage rates dip below 6 percent

Submitted by Ronald Tennant with Metrocities Mortgage:

Freddie Mac reports 30-year fixed rate averaged 5.98 percent this week Rates on 30-year mortgages dipped below 6 percent this week, falling to their lowest level in five weeks.
Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages averaged 5.98 percent this week. That was down from 6.01 percent last week.
It was the lowest level for 30-year mortgages since they averaged 5.88 percent the week of April 17. After that, 30-year rates climbed above 6 percent for four straight weeks.
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