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Article: 30-Year Mortgages Approach 2003 Rates
- Article from:
- AP Online
- Article date:
- March 18, 2004
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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MARTIN CRUTSINGER, AP Economics Writer
AP Online
03-18-2004
Dateline: WASHINGTON
Mortgage rates fell again this week, with the benchmark 30-year mortgages approaching last year's rates, which were the lowest in more than four decades. Rates for one-year adjustable mortgages set a new record low.
The average rate on 30-year, fixed-rate mortgages dipped to 5.38 percent, mortgage giant Freddie Mac reported Thursday in its weekly nationwide survey of mortgage rates.
This week's rate was down from 5.41 percent last week and marked the lowest level for 30-year mortgages since the week ending June 27, when rates averaged 5.24 percent. The low point for 30-year mortgages since the early 1960s was ...