Mortgage Rates Reach 6 Months Low

Mortgage Rates Hit 6-Week Low
Freddie Mac reports that the average interest for 30-year fixed mortgages was 5 percent this week, down from last week’s 5.06 percent.
Meanwhile, 15-year fixed loans averaged 4.36 percent versus 4.39 percent over that same time span. Rates on five-year, adjustable-rate mortgages and on one-year ARMs also were down, averaging 3.97 percent and 4.07 percent, respectively.
Source: Modesto (Calif.) Bee (05/07/10)