Thursday, May 15, 2008

Weekly mortgage rates fall, but remain above 6%

"Rates on 30-year mortgages eased this week, but remained above 6%, as signs that the overall economy is recovering helped offset ongoing weakness in the housing market, mortgage backer Freddie Mac said Thursday.

Freddie Mac said 30-year fixed-rate mortgages averaged 6.01% this week with an average of 0.6 point, down from 6.05% last week. Last year at this time, the 30-year loan averaged 6.15%."

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Weekly mortgage rates fall, but remain above 6%

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