30-Year Fixed at 5 Month Lows

By:
Bill Rice - MortgageLoan.com
30-year fixed rate mortgages dip as low as 5.75 percent. This sends mortgage rates to a 5 month low with the biggest one month drop in 28 years. Mortgage rates were sent plummeting when the US government seized Fannie and Freddie this weekend. The move by the Treasury Secretary Paulson takes nearly all of the risk out of the giant mortgage institutions failing and causing global financial turmoil. Look for this fall in interest rates to only be temporary as the Federal Reserve continues to eye inflationary concerns and broader economic weakness.

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30 yr fixed 4.91
15 yr fixed 4.35
5/1 ARM 3.79

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