Mortgage Rates Continue Fall

By:
Bill Rice | August 28, 2008

Mortgage rates continue to fall slightly, but don't expected it to be the long-term trend. In a run up to one of the largest US government debt refinancing in history, at $22 billion, treasuries fell. Moving the markets over the last few days have been government reports of GDP being up--largely due to weakened dollar and increased imports as well as FOMC Minutes that seem to indicate the likelihood of a Fed rate increase. Mortgage rates will continue a mixed set of minor fluctuations. Most likely we will continue to see long-term rates decline slightly and short-term rates rise slightly.

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National Rates

Loan Type Today
15 yr fixed 4.72%
30 yr fixed 5.16%
5/1 ARM 4.60%

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