Smart Borrower Blog

Archive for July, 2008

A Drop In Mortgage Rates

Thirty year fixed rate mortgages see a drop this week after rising for five straight weeks. The national average for 30-year fixed-rate mortgages fell to 6.35% from 6.45% a week ago. The 30-year loan averaged 6.63% last year at this time. 15-year fixed-rate mortgages dropped to 5.92 percent from 6.04 percent. This of course does not take into account points, which are running around 0.6 points this week. I found interesting comments on this news, and see everything from jubilation to skepticism.   A gentleman commented that “A tenth of a percent is hardly a drop, I would be more... more »