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Mortgage Rates Fall To 3-Month Low

Rates Have Been Falling Since Mid-December

POSTED: Thursday, January 19, 2006
UPDATED: 1:32 pm EST January 19, 2006

Mortgage rates are down again.

Freddie Mac said Thursday that rates on 30-year mortgages fell for a sixth straight week, dropping to the lowest level in three months.

The mortgage giant's weekly survey showed rates on 30-year, fixed-rate mortgages dipped to 6.10 percent this week, from 6.15 percent last week.

Rates have been falling since mid-December and are now the lowest they've been since mid October.

A competing survey from Bankrate.com showed that the average 30-year, fixed-rate mortgage fell from 6.22 percent last week, to 6.12 percent this week.

Rates on 15-year, fixed-rate mortgages -- a popular refinancing choice -- averaged 5.67 percent this week, down from 5.71 percent last week.

One-year adjustable rate mortgages edged up slightly to 5.18 percent, compared with 5.15 percent last week.

Rates on five-year hybrid adjustable rate mortgages dipped to 5.75 percent, from 5.76 percent last week.


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