June 30, 2005
LOS ANGELES -- Last week
interest rates on
30-year home
loans dropped to the lowest point experienced in 15 months offering an
even bigger window of opportunity for home buyers and
refinance
candidates who are still facing soaring home prices across the United States
in a myriad of marketplaces.
Industry giant Freddie Mac
reported Thursday that
mortgage rates on 30-year fixed mortgages declined to
5.53 percent, down from 5.57 percent seen the prior week. Last week's results
are for week ending June 30.
This week's
average
interest rate landed at the lowest point seen since the beginning of April,
2004 when 30-year mortgage rates averaged 5.52 percent.
15-year fixed-interest
mortgages, a favored refinancing option, also declined to a nationwide
average of 5.12 percent versus 5.16 percent the previous week.
- Article by
Nolan Voight for CMR Original Syndicated News.
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