Daily Dupaco

Friday, May 07, 2010

Mortgage Rates Fall To Six-Week Lows

Long-term mortgage rates declined this week, with the average for the benchmark 30-year loan drifting to its lowest level in six weeks, according to Freddie Mac.

The U.S. national average for the 30-year, fixed-rate mortgage fell to 5% this week, from 5.06% last week; while the average for the 15-year, fixed-rate loan declined to 4.36%, from 4.39%.

Iowa mortgage rates for 30-year fixed-rate mortgages remained stable at 4.88% on Wednesday, according to Zillow Mortgage Marketplace.

ARM rates also fell, with the national average for the five-year ARM dipping to 3.99%, from last week's 4%--hitting the lowest level since Freddie started tracking such loans at the beginning of 2005. One-year ARMs averaged 4.07%, down from 4.25%.
Comments (0)

Post a Comment

Please provide your information. Name and email address are required. Email address will not be displayed with the comment.
Comment Title:
Please enter the code shown in the image

Thank you. Your comment is being reviewed and if approved, will be posted shortly.

Related Content
Daily Dupaco Archive
For a limited time, get $600 off closing costs with a Dupaco mortgage loan
For a limited time, earn 10,000 bonus points* when you open and use a Dupaco Rewards Visa credit card