Market Speculation About the Fed's Future Actions Allows Rates to Drop

Freddie Mac vice president and chief economist. "Some of the factors motivating the change in market perceptions this week included retail sales for June rising at the slowest pace since February and consumer sentiment in July holding at low levels not seen since 1980.

30-year fixed-rate mortgage: Averaged 6.26 percent with an average 0.6 point for the week ending July 17, 2008, down from last week when it averaged 6.37 percent. Last year at this time, the 30-year FRM averaged 6.73 percent.

The 15-year fixed-rate mortgage: Averaged 5.78 percent with an average 0.6 point, down from last week when it averaged 5.91 percent. A year ago at this time, the 15-year FRM averaged 6.38 percent.

Five-year Treasury-indexed ARMs: Averaged 5.80 percent this week, with an average 0.6 point, down from last week when it averaged 5.82 percent. A year ago, the 5-year ARM averaged 6.35 percent.

One-year Treasury-indexed ARMs: Averaged 5.17 percent this week with an average 0.5 point, unchanged from last week. At this time last year, the 1-year ARM averaged 5.71 percent

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Howard Bell

www.yourpropertypath.com

A web site of over 450 articles related to real estate focused primarily on property management.

Your Property PathSF

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