June 24, 2005 WASHINGTON --
On Thursday, mortgage
industry giant Freddie Mac released its weekly survey for the week ending
June 23, 2005 showing that average
home loan costs for
30-year fixed
programs dropped during the period. The prior week's average 30-year rate was
5.63 percent. Averages for week ending June 23 were at 5.57 percent.
Rates are now surprisingly low, especially when you
consider that just one year ago the 30-year mortgage rate average was 6.25
percent. Needless to say, many home buyers are jumping at the chance to lock
rates while they have the market appeal of recent weeks.
15-year fixed interest rate averages also declined this week to 5.16
percent, down from 5.22 percent one week prior. Discount points and fees,
however, experienced minute increases for 15-year home loans. In June of 2004
15-year fixed average was at 5.64 percent.- Column
by Nolan Voight
for CMR Original News.
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