1/3/2008 - According to a weekly survey released by Freddie Mac, 30 year mortgage rates in the U.S. fell to their lowest average in 4 weeks and are lower compared to last year at this time.
The U.S. 30 year fixed mortgage rate fell to an average of 6.07 percent, which is 0.10 percent lower than last week. The U.S. 15 year fixed mortgage rate also fell 0.11 percent from last week to 5.68 percent. A year ago the U.S. 30 year fixed mortgage rate was at 6.18 percent while the U.S. 15 year fixed mortgage was at 5.94 percent.
"The new year has begun with mixed signals on the direction of the economy and mortgage market," said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement. He also added, "the Conference Board reported that consumer confidence rose in December for the first time in five months, with more positive expectations for the next six months."
According to the National Association of Realtors, in November the U.S. existing home sales rose 0.4 percent to an annualized rate of 5.0 million units.
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