Advertisement

IN BRIEF / THE ECONOMY

Mortgage Rates Dip for Second Week

September 19, 2003|From Associated Press

Rates on benchmark 30-year mortgages, which had been on a fairly steady climb since late June, dropped sharply for the second week in a row.

The average rate on 30-year mortgages fell to 6.01% for the week ended today from last week's 6.16%, Freddie Mac reported in its weekly nationwide survey.

This week's rate was the lowest since late July.

For 15-year fixed-rate mortgages, a popular option for refinancing, rates dipped to 5.30% this week, compared with 5.46% last week.

Rates for one-year adjustable mortgages fell to 3.81% from 3.87%.

Advertisement
Los Angeles Times Articles
|
|
|