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Another Record Low for 30-Year Mortgages

May 16, 2003|From Associated Press

Rates on 30-year mortgages dropped to another record low this week, with the average interest rate on a fixed-rate 30-year mortgage falling to 5.45%, down from 5.62% the week before, mortgage company Freddie Mac said.

For 15-year fixed-rate mortgages, rates declined to 4.84% this week, compared with last week's rate of 4.97%. Rates for one-year adjustable mortgages, however, nudged up to 3.67% from 3.66% last week.

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