News Markets Media

USA | Europe | Asia | World| Stocks | Commodities

Home News USA Stock Market Volatility and Loosening Credit Push Mortgage Rates Down


Stock Market Volatility and Loosening Credit Push Mortgage Rates Down
added: 2008-10-29

Mortgage rates dropped last week, with rates for 30-year fixed mortgages falling to 6.00 percent, down from 6.36 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com(R).

Mortgage rates for 15-year fixed fell to 5.64 percent, down from 6.00 percent and 5-1 adjustable rate mortgages declined slightly to 5.64 percent from 5.69 percent.

Rates for 30-year fixed mortgages appeared to be rising again on Monday evening, however, with the average rate on Zillow Mortgage Marketplace at 6.20 percent.

At a state level, the 30-year fixed mortgage rate in North Carolina saw the most significant drop from 6.38 percent to 5.95 percent. Rates on 30-year fixed mortgages were lowest in the states of Colorado (5.89%) and Georgia (5.93%), while Maryland (6.20%) and New York (6.06%) had the highest rates.


Source: PR Newswire

Privacy policy . Copyright . Contact .