Mortgage rates down

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More info about Interest Rates, Credit Limits, Incentives, Fees and Penalties

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Fees and Penalties - Compare common charges such as late fees, overlimit fees, balance transfers, cash advances, and for making payments by telephone. Regarding balance transfers, look for credit card offers with no transaction fees and zero percent interest for at least 12 months.

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Mortgage rates down

By Credit Federal | Published 01/2/2006

Mortgage loan rates down slightly, but higher for year

Average interest rates on 30-year fixed rate mortgages continued their December decline, dropping to 6.22% this week from 6.26% last week, mortgage finance company Freddie Mac reported.

Rates on 15-year mortgages dipped to an average of 5.76% in the week ending Thursday from 5.79%, Freddie Mac said. Calculate new purchase mortgage payments and interest or mortgage refinancing payments and interest.

"Lower figures for the recently released producer price index and consumer price index and lower, but still strong, gross domestic product combined with the seasonal slowdown in the housing market led to another decline in mortgage rates this week," Amy Crews Cutts, Freddie Mac deputy chief economist, said in a statement.

For the year, the 30-year mortgage rate averaged 5.87%, she said, adding that it averaged 5.84% in 2004.

In November, mortgage rates reached the highest monthly average of the year, Cutts said, and put a damper on the country's home-buying. Sales of existing homes fell 1.7% in November to a 6.97 million unit annual rate, the National Association of Realtors reported Thursday. (Related: Existing home sales slow; inventory highest since '86)

A year ago rates averaged 5.81% on 30-year mortgages, 5.23% on 15-year mortgages and 4.19% on the one-year adjustable rate mortgages (ARM). This week, the ARM dropped to an average of 5.15% from 5.22%.

Lenders charged an average of 0.5% in fees and points on 30-year mortgages, down from 0.6%.They charged 0.6% on the 15-year mortgage and 0.7% on the one-year ARM, both the same as last week.

The hybrid "5/1" ARM, set at a fixed rate for five years, then adjustable each year following, averaged 5.79%, was unchanged from a week ago, Freddie Mac said. Get more mortgage rate news.

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Mortgage rates down - by <a href=http://creditfederal.com>CreditFederal.com</a> <a href="http://creditfederal.com/mortgage-loan.html">Mortgage loan</a> rates down slightly, but higher for year Average interest rates on 30-year fixed rate mortgages continued their December decline, dropping to 6.22% this week from 6.26% last week, mortgage finance company Freddie Mac reported. Rates on 15-year mortgages dipped to an average of 5.76% in the week ending Thursday from 5.79%, Freddie Mac said. Calculate new purchase <a href="http://creditfederal.com/mortgage-calculator.html">mortgage</a> payments and interest or <a href="http://creditfederal.com/mortgage-refinancing-calculator.html">mortgage refinancing</a> payments and interest. "Lower figures for the recently released producer price index and consumer price index and lower, but still strong, gross domestic product combined with the seasonal slowdown in the housing market led to another decline in mortgage rates this week," Amy Crews Cutts, Freddie Mac deputy chief economist, said in a statement. For the year, the 30-year mortgage rate averaged 5.87%, she said, adding that it averaged 5.84% in 2004. In November, mortgage rates reached the highest monthly average of the year, Cutts said, and put a damper on the country's home-buying. Sales of existing homes fell 1.7% in November to a 6.97 million unit annual rate, the National Association of Realtors reported Thursday. (Related: Existing home sales slow; inventory highest since '86) A year ago rates averaged 5.81% on 30-year mortgages, 5.23% on 15-year mortgages and 4.19% on the one-year adjustable rate mortgages (ARM). This week, the ARM dropped to an average of 5.15% from 5.22%. Lenders charged an average of 0.5% in fees and points on 30-year mortgages, down from 0.6%.They charged 0.6% on the 15-year mortgage and 0.7% on the one-year ARM, both the same as last week. The hybrid "5/1" ARM, set at a fixed rate for five years, then adjustable each year following, averaged 5.79%, was unchanged from a week ago, Freddie Mac said. Get more <a href="http://creditfederal.com/article/blogs/99/Mortgage-Interest-Rates">mortgage rate</a> news. This article provided courtesy of <a href=http://creditfederal.com target=_new>www.CreditFederal.com</a>, a personal credit resource of good or bad credit credit cards and loans.

Credit Tip: Need a high limit for Christmas credit card charges? If you have bad credit, consider a personal loan by refinancing your mortgage. Even if you have cash to buy Christmas presents, we recommend using a prepaid card to make purchases because it's safer than carrying cash.