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Article: Mortgage Rates Fall Below 7 Percent

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The Washington Post
Article date:
March 10, 2001
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Mortgage rates around the country edged down this week, with 30- year mortgages dipping below the 7 percent mark once again.

The average interest rate on 30-year fixed-rate mortgages fell to 6.97 percent, down from 7.03 percent last week, according to a nationwide survey released Thursday by Freddie Mac. The last time 30- year mortgages averaged under 7 percent was the week ending Feb. 9.

A year ago, 30-year mortgages averaged 8.23 percent and were rising, ultimately hitting a five-year high of 8.64 percent in mid- May.

Fifteen-year mortgages, a popular option for refinancing, declined to 6.52 percent this week, down from 6.58 percent last week. A year

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