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Worries about the economy send mortgage rates lower.
(Jan. 11/2008)
With worries about a slowing economy we are seeing 30-year mortgages below the 6 percent mark for the second time in more than two years. Freddie Mac reported that 30-year, fixed-rate mortgages averaged about 5.87% this past week. That was down from over 6% last week and was the lowest level for 30-year mortgages in the past two years. Only once in the past 2 years did rates head below 6% and that was Dec. 2007.
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