Homepage

graphic

graphic

Mortgage rate slide hits month two
Rates dip for the eighth straight week with 30-year at 5.81, 15-year at 5.19 and 1-year ARM at 4.01.
August 19, 2004: 1:07 PM EDT

Mortgage Rates
30 yr fixed 3.94%
15 yr fixed 3.04%
5/1 ARM 3.55%
30 yr refi 4.02%
15 yr refi 3.10%

Find personalized rates:
 

Rates provided by Bankrate.com.

NEW YORK (CNN/Money) - Mortgage rates fell this week, marking two-consecutive months of declines, as a slew of economic reports continued to point to hurdles for the economic recovery.

The rate on 30-year fixed-rate mortgages averaged 5.81 percent in the week ending Aug. 19, with an average 0.7 point payable up front, down from 5.85 percent the previous week, Freddie Mac said.

A year earlier, the rate on the 30-year fixed-rate loan averaged 6.24 percent.

The 15-year mortgage rate fell to a 5.19 percent average from 5.4 percent, with 0.6 point payable up front. Last year, the average rate stood at 5.58 percent.

One-year adjustable rate mortgages (ARMs) averaged 4.01 percent, down from 4.08 percent last week, with 0.6 of a point payable up front. At this time last year, the average rate for ARMs was 3.75 percent.

"Mortgage rates eased even further this week in response to a setback in economic growth during June and possibly July," said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement. "However, we believe the slowdown to be temporary and we expect growth to pick back up in the second half of this year.

"In the meantime, lower rates have spurred further expansion of homeownership, which was confirmed by the new housing construction figures for July," he added. "Thanks in great part to the low mortgage rates we have experienced thus far, 2004 will be another banner year for the housing industry."

Freddie Mac's (FRE: down $0.58 to $66.97, Research, Estimates) average mortgage rates are based on a survey of 125 lenders nationwide.  Top of page




  More on REAL ESTATE
Big Oil keeps stealing my construction workers!
'I bought a house for $1,000'
Are you a homebuying genius?
  TODAY'S TOP STORIES
Warren Buffett loses $2 billion in two days
Washington Post's Ben Bradlee dies
Yahoo profit soars following Alibaba IPO




graphic
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. 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 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.