SignOnSanDiego.com > News > Business -- Mortgage rates edge lower
January 28, 2005
Rates on 30-year mortgages fell for a fourth straight week as investors waited to see what the Federal Reserve will do next week with interest rates.
Freddie Mac's weekly nationwide survey showed that rates on 30-year, fixed rate mortgages averaged 5.66 percent, down from 5.67 percent a week earlier.
Rates on 15-year, fixed-rate mortgages dipped to 5.14 percent from 5.15 percent. Rates on one-year adjustable-rate mortgages rose to 4.18 percent from 4.11 percent. Five-year hybrid adjustable rate mortgages tell to 5.02 percent from 5.05 percent.
The rates do not include add-on fees known as points. The 30-year, 15-year and five-year mortgages each carried a 0.6 point fee. The one-year ARM carried a 0.8 point fee.
Fed policy-makers will hold their first meeting of 2005 on Tuesday and Wednesday and it is widely expected they will increase a key short-term rate for the sixth time since last June, moving it up by another quarter-point.
Associated Press
Rates on 30-year mortgages fell for a fourth straight week as investors waited to see what the Federal Reserve will do next week with interest rates.
Freddie Mac's weekly nationwide survey showed that rates on 30-year, fixed rate mortgages averaged 5.66 percent, down from 5.67 percent a week earlier.
Rates on 15-year, fixed-rate mortgages dipped to 5.14 percent from 5.15 percent. Rates on one-year adjustable-rate mortgages rose to 4.18 percent from 4.11 percent. Five-year hybrid adjustable rate mortgages tell to 5.02 percent from 5.05 percent.
The rates do not include add-on fees known as points. The 30-year, 15-year and five-year mortgages each carried a 0.6 point fee. The one-year ARM carried a 0.8 point fee.
Fed policy-makers will hold their first meeting of 2005 on Tuesday and Wednesday and it is widely expected they will increase a key short-term rate for the sixth time since last June, moving it up by another quarter-point.
Associated Press
posted by Kirby P at 9:12 AM
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