The Thursday Mortgage Rate Update
June 28, 2007 | 5:34
pm
As you probably know, Gentle Ben Bernanke (pictured) and his Fed friends left their key short-term rate unchanged today at 5.25%.
Long-term rates, and mortgage rates, continued to slip this week -- investors witnessing the carnage in the subprime market are paying more for stability, which drives rates down.
Inman news reports: "In Freddie Mac's survey, the 30-year fixed-rate mortgage dipped to an average 6.67% from 6.69% last week.... In Bankrate.com's survey, the average 30-year fixed mortgage rate this week in Los Angeles held steady at 6.79%.
Freddie Mac Timeline
6/14 6.74%
6/21 6.69%
6/28 6.67%
Comments? Insights?
Photo Credit: Reuters
