Mortgage rates fall, 1st time since February
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interest rates, Mortgage Interest Rates March 20th, 2008Fed actions spur drop in 30-year fixed-rate mortgages, but ARM rates still climb.
NEW YORK (CNNMoney.com) — Borrowers looking for fixed-rate mortgages can now find the lowest rates in more than a month. But experts warn the decline may not last for long.
Rates on fixed-rate mortgages dropped sharply in the past week, after the Federal Reserve took several historic steps to shore up the financial markets. The rate on a 30-year loan dropped to an average of 5.87%, down from 6.13% a week ago, according to new Freddie Mac figures released Thursday. A 15-year mortgage now can be had for 5.27%, down from 5.60%
Tags: interest rates, Mortgage Interest Rates
