Mortgage Rates Unchanged

Wall Street Journal (08/08/08) P. C3
Freddie Mac reports that long-term mortgage rates held steady during the week ended Aug. 7. Interest rates on 30-year fixed loans were unchanged from a week earlier, at 6.52 percent, but were down slightly from 6.59 percent at this time last year. Movement on borrowing costs for other types of loans was mixed, with the rate on 15-year fixed mortgages bumping up to 6.10 percent from 6.07 percent but the average interest on adjustable-rate products dipping. One-year ARMs dropped to 5.22 percent from 5.27 percent, while five-year ARMs settled at 6.05 percent compared to 6.07 percent last week.