The 30-year fixed mortgage rate fell to a more than two-year low
in the week ended Nov. 29, slipping to 6.1 percent from 6.2 percent the
prior week. Freddie Mac further reported that the 15-year fixed loan
rate fell to 5.73 percent from 5.83 percent over that same time span,
and that interest on five-year adjustable-rate mortgages dipped to 5.86
percent from 5.88 percent. Meanwhile, the one-year ARM bumped up to 5.43
percent from 5.42 percent. Freddie Mac chief economist Frank Nothaft
attributed the decline in mortgage rates to worries about an economic
downturn tied to the weak housing and credit markets, which has pushed
down interest rates on U.S. Treasuries.
[SOURCES: Freddie Mac; Information, Inc.]
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