Daily Real Estate News | January 18, 2008
30-Year Mortgages Hit Lowest Rates Since 2005
Long-term mortgage rates remain in a downward pattern,
registering the third consecutive week of decline.

According to Freddie Mac’s numbers, average interest on 30-year fixed
loans settled the week at 5.69 percent—the lowest level since July 2005.
Other rate declines include:

• 15-year fixed mortgages slipped to 5.21 percent from 5.43 percent a week ago.
• 5-year adjustable-rate average retreated to 5.4 percent from 5.63 percent.
• 1-year ARMs fell to 5.26 percent from 5.37 percent..

Observers generally agree that borrowing costs will remain at or near 6 percent for
2008 unless a U.S. recession surfaces—in which case they expect rates to decline
further.

Source: Baltimore Sun (01/18/08)