Mortgage Rates are Dropping

Good sign for home buyers,

Rates Drop on Weak Job Report, Inflation

(June 9, 2006) —   Freddie Mac reports that the 30-year fixed mortgage rate fell to 6.62 percent this week from 6.67 percent a week earlier, marking the second drop in 11 weeks.

The decrease can be attributed to a weaker-than-anticipated jobs report that lessened inflation worries, says the government-sponsored enterprise,

Meanwhile, the 15-year fixed mortgage rate slipped to 6.23 percent from 6.26 a week ago. The one-year adjustable rate dipped to 5.63 percent from 5.68 percent, and the five-year hybrid adjustable rate tumbled to 6.20 percent from 6.26 percent over the same period.

Source: Baltimore Sun (06/09/08)

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