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Long-Term Mortgage Rates Fall
POSTED: 10:45 am CST February 23, 2006
UPDATED: 10:54 am CST February 23, 2006
MCLEAN, Va. -- Mortgage giant Freddie Mac said Thursday that mortgage interest rates edged down this week for the first time in five weeks. The survey of 30-year, fixed-rate mortgages averaged 6.26 percent, down from 6.28 percent. A year ago, the average stood at 5.69 percent.A competing survey from Bankrate.com found that 30-year, fixed-rate mortgage rates fell to 6.34 percent. The average for 15-year fixed mortgages was also slightly lower at 5.89 percent. It stood at 5.91 percent last week. On one-year Treasury-indexed adjustable-rate mortgages, the average was 5.32 percent. That's down from 5.36 percent last week. Freddie Mac chief economist Frank Nothaft said the slight dip reflects this week's figures on core inflation.The Consumer Price Index report indicated that rising energy costs were not causing a large uptick in broader inflation.
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