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Mortgage Rates Decline in Weekly Survey

June 25, 2004|From Associated Press

Rates on 30-year fixed-rate mortgages declined to 6.25% this week from 6.32% last week, mortgage company Freddie Mac reported.

Rates for 15-year, fixed-rate mortgages dipped to 5.64%, down from 5.70% last week.

For one-year adjustable rate mortgages, rates stood at 4.13%, unchanged from last week.

The nationwide averages for mortgage rates do not include add-on fees known as points. Thirty-year and 15-year loans each carried an average fee of 0.6 point this week, while one-year ARMs carried an average fee of 0.7 point.

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