Mortgage Rates Fall to Lowest Since Mid-April

From the Associated Press
July 9, 2004

Rates on benchmark 30-year, fixed-rate mortgages fell to 6.01% this week, down from 6.21% last week and the lowest level since mid-April, mortgage company Freddie Mac said.

Rates for 15-year, fixed-rate mortgages dropped to 5.42%, down from 5.62% last week. It was the lowest level since the end of April.

Rates on one-year adjustable-rate mortgages also were down, falling to 4.05% from 4.19% the previous week.

The nationwide averages for mortgage rates do not include add-on fees known as points. All loans carried an average fee of 0.6 point this week.

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