November 14, 2008
Rates are dropping!
Mortgage Rates Drop Again Freddie Mac reports that the 30-year fixed mortgage rate dropped to 6.14 percent during the week ended Nov. 13, marking the second consecutive weekly decline. Rates were 6.20 percent the prior week.The 15-year fixed mortgage rate fell to 5.81 percent from 5.88 percent, while the five-year adjustable mortgage rate slipped to 5.98 percent from 6.19 percent. However, the one-year ARM climbed to 5.33 percent from 5.25 percent.