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Mortgage
Rates Hit 6-Month Low
Long-term
mortgage rates fell again this week to the lowest level in six months,
Freddie Mac reported on October 21, according to CNN.
The rate on 30-year fixed-rate mortgages averaged 5.69 percent in
the week ended Thursday, with an average 0.7 of a point payable up
front, down from last week when it averaged 5.74 percent.
A year earlier, the rate on the 30-year fixed-rate loan stood at 6.05
percent.
The 15-year mortgage rate eased to 5.07 percent this week from 5.14
percent last week, also with 0.6 of a point up front. Last year, the
average rate stood at 5.36 percent.
Rates haven't been this low since April 1, when the when the 30-year
fixed-rate stood at 5.52 percent and the 15-year was at 4.84 percent.
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