'Mortgage rates continue to fall'

Mortgage rates continue to fall

05/27/09 09:12

Mortgage rates continue to fall as the Federal Reserve maintains measures that will keep them that way.

According to a weekly report by state-owned Freddie Mac, 30-year fixed-rate mortgages fell to 4.82 percent, down from 4.86 percent. This has made fixed-rate mortgage rates at par with many adjusted-rate ones. For instance, 1-year ARMs also averaged 4.82 percent last year.

Fixed-rate mortgages are traditionally more expensive than ARMs.

Link: Mortgage rates fall to 4.82% - Orlando Business Journal

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