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Rates on 30-year mortgages fall

JEANNINE AVERSA, Associated Press
The Columbian
03-12-2004
WASHINGTON -- Mortgage rates fell sharply this week, with the rate on benchmark 30-year mortgages dropping to its lowest level since early July.
The average rate on 30-year, fixed-rate mortgages was 5.41 percent, Freddie Mac, the mortgage giant, reported Thursday in its weekly nationwide survey of mortgage rates. This week's rate was down from 5.59 percent last week and marked the lowest rate since the week ending July 4 when rates averaged 5.40 percent.
Rates on 30-year mortgages sank to 5.21 percent in the middle of June, the lowest level in more than four decades. Since then, rates have bounced up and down.
"Interest ...

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