Advertisement
YOU ARE HERE: LAT HomeCollections

ECONOMY : In Brief

Mortgage rates inch downward

August 03, 2007|From Times Wire Services

Rates on 30-year, fixed-rate mortgages averaged 6.68% this week, down slightly from 6.69% last week and the lowest since early July when rates stood at 6.63%, mortgage company Freddie Mac said.

Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, dropped to 6.32% from 6.37% last week. For five-year adjustable-rate mortgages, rates dipped to 6.29% from 6.30%. Rates on one-year adjustable-rate mortgages sank to 5.59% compared with 5.69%.

The mortgage rates do not include add-on fees known as points. Thirty-year and 15-year mortgages each carried a nationwide average fee of 0.3 point. Five-year and one-year ARMs each carried an average fee of 0.5 point.

Advertisement
Los Angeles Times Articles
|
|
|