Rates are Falling Again

Rates on Mortgages Drop

(July 16, 2004) -- Freddie Mac reports that 30-year mortgage rates slipped from 6.01 percent to 6 percent this week, marking the fourth straight week of declines. Interest on 15-year loans also dropped, falling from 5.42 percent to 5.40 percent. Meanwhile, one-year adjustable mortgage rates dipped from 4.05 percent to 4.02 percent.

Source: New York Times (07/16/04)