Daily Real Estate News April 11, 2008
Mortgage Rates Hold Steady
The average interest on the benchmark mortgage rate held below the 6-percent threshold for the fourth consecutive week as 30-year loans remained at 5.88 percent this week, according to Freddie Mac. ''Once again, mortgage rates held relatively steady this week amid release of subdued economic data,'' says Freddie Mac chief economist Frank Nothaft, who cited a government report on the number of jobs that were eliminated by businesses last month. There was little movement involving the other mortgage rates as 15-year, fixed loans held steady at 5.42 percent, five-year adjustable-rate mortgages fell 0.03 percent to 5.56 percent, and one-year ARMs declined 0.01 percent to 5.18 percent.Source: Chicago Sun-Times (04/11/08) © Copyright 2008 Information Inc.
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