Mortgage Rates Stuck Again
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- Bill Rice | Tue, 12/02/2008
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Although mortgage rates descended to a new low in the past week, they are now stuck at these new levels. Unfortunately, it does not seem to be enough to get the housing market moving again. Mortgage rates closed up on an upward trend yesterday. However, Federal Reserve Chairman presented an aggressive stance on mortgage rates in his afternoon speech that may send rates back down today ahead of more government buying of mortgage-backed securities and assets.
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National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 4.83 |
| 15 yr fixed | 4.39 |
| 5/1 ARM | 3.69 |
Rates may contain points
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