Mortgage Rates Decline as Interest-Rate Fears Ease

Baltimore Sun (07/18/08)
Freddie Mac reports a drop in the 30-year fixed mortgage rate to 6.26 percent during the week ended July 17 from 6.37 percent the prior week, marking a six-week low. Over the same period, interest on 15-year fixed loans fell to 5.78 percent from 5.91 percent. The declines are attributed to analysts' expectations that the Federal Reserve will hold rates steady at its next meeting, given that Chairman Ben Bernanke recently has underscored the need to balance inflation concerns and the economic downturn.