Friday, July 01, 2005

Mortgage Rates

The Big Picture: Mortgage Rates versus Fed Fund Rates
DESPITE THE FEDERAL RESERVE'S rate raising campaign started June 30, 2004, fixed mortgage rates are lower now than they were a year ago.

The average rate on a 30-year fixed mortgage is 5.66%, down from 6.30% a year ago, according to Bankrate.com's national weekly survey of large lenders. As for one-year adjustable-rate mortgages, the rate is 4.69%, up slightly from 4.43% in June 2004.
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