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Thursday, February 03, 2005
30-year mortgage rate falls a fifth week CHICAGO (MarketWatch) - The fixed rate for a U.S. 30-year mortgage declined for a fifth straight week, while short-term adjustable rates continued to rise in step with Federal Reserve rate hikes, the latest survey from Freddie Mac showed Thursday. Homeowners will pay an average 5.63 percent on a 30-year loan secured in the week ended Feb. 3, down from last week's 5.66 percent, said Freddie Mac, which has tracked mortgages on a regular basis since the 1970s. The 30-year average rate was 5.72 percent at this time last year. Read Full Story |
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