Friday, August 8, 2008

Mortgage Rates Fell in Week

The Wall Street Journal

WASHINGTON -- Home-mortgage rates dropped this week, after a fall in commodity prices eased worries about inflationary pressures, Freddie Mac's chief economist said.

The 30-year fixed-rate mortgage averaged 6.52% nationally, down from last week's 6.63% average, according to Freddie's weekly survey. The rate for that loan averaged 6.68% a year ago.

The 15-year fixed-rate mortgage averaged 6.07%, down from 6.18% last week. It averaged 6.32% a year ago.

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