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30-year mortgage rates remain the same, while others fluctuate
Published: 08/08/08   1:00 am
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WASHINGTON – Interest rates on 30-year mortgages didn’t budge this week, while rates on other home loans were a mixed bag.

Mortgage company Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.52 percent for the week ending Aug. 7. That was the same as last week’s rate, which marked the second-highest of the year. The highest – 6.63 percent – came the week ending July 24.

Meanwhile, rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, rose to 6.10 percent this week, up from 6.07 percent last week.

Other rates, however, went down. Rates on five-year, adjustable-rate mortgages averaged 6.05 percent this week. That was down slightly from 6.07 percent last week. And rates on one-year, adjustable-rate mortgages dipped to 5.22 percent, compared with 5.27 percent.

A year ago, rates on 30-year mortgages stood at 6.59 percent, 15-year mortgage rates averaged 6.25 percent, five-year adjustable-rate mortgages were at 6.33 percent and one-year adjustable-rate mortgages stood at 5.65 percent.

Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
 

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