graphic

graphic

Long-term mortgage rates inch lower
Freddie Mac says home-loan rates relatively unaffected by Fed; 30-year fixed-rate dips to 6.21%.
July 1, 2004: 11:26 AM EDT

Mortgage Rates
30 yr fixed 4.26%
15 yr fixed 3.30%
5/1 ARM 3.30%
30 yr refi 4.25%
15 yr refi 3.29%

Find personalized rates:
 

Rates provided by Bankrate.com.

NEW YORK (CNN/Money) - Longer-term home-loan rates eased despite a Wednesday decision by the Federal Reserve to lift interest rates, mortgage financier Freddie Mac said in its latest report Thursday.

"As expected, long-term mortgage rates were relatively unaffected by the Fed's recent actions," said Frank Nothaft, Freddie Mac vice president and chief economist.

"And, as also expected, short-term mortgage rates moved upward in response to those same actions."

The rate on 30-year fixed-rate mortgages averaged 6.21 percent in the week ending July 1, with an average 0.6 point payable up front, down from 6.25 percent the previous week, Freddie Mac said.

A year-earlier, the rate on the 30-year fixed-rate loan averaged 5.24 percent.

The 15-year mortgage rate eased to 5.62 percent from 5.64 percent, also with 0.6 point payable up front. Last year, rates stood at 4.63 percent.

One-year adjustable rate mortgages (ARMs) averaged 4.19 percent, up from 4.13 percent the week prior, with 0.7 of a point payable up front. A year-earlier the average rate for ARMs was 3.45 percent.

"Although we anticipate a moderation in the housing sector at some future point, with the economy picking up steam and mortgage rates still low by historical standards, the housing market will remain buoyant for at least the rest of the year," added Nothaft.

Freddie Mac's (FRE: down $1.19 to $62.11, Research, Estimates) average mortgage rates are based on a survey of 125 lenders nationwide.  Top of page




  More on REAL ESTATE
Detroit to auction vacant homes online. Starting bid: $1,000
Live in a rock star's home for about $1 million
When Wall Street becomes a landlord
  TODAY'S TOP STORIES
Fears grow over China property flameout
China GDP hits 7.4% in first quarter
GM CEO: 'We know the world is watching'




graphic
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.