Mortgage rates at lowest since April
Posted on August 12, 2006
Filed Under Mortgage Updates
“Mortgage rates around the country dipped for a third week in a row, pushing 30-year mortgages to their lowest level since April,” according to an AP article in the Ledger-Enquirer.
This week, 30-year, fixed-rate mortgages fell to 6.55% (down from 6.63 percent last week). The last time rates were this low was the week of April 20th, when they averaged 6.53%.
The decline is likely due to “continued evidence that the economy is slowing, which should ease pressure on interest rates, and the decision by the Federal Reserve this week to call a temporary halt to its two-year campaign to push short-term rates higher.”
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