30 Year Mortgage Interest Rate is Falling

The benchmark 30 year fixed mortgage interest rate has fallen to its lowest levels in eight months. With efforts underway to infuse the market with more cash, I think the 30 year rate will fall even more and could possibly end the year at around 6.00%. Here is a snapshot (red = rates, blue = points paid)


The high (6.74%) was June 21, 2007.

Here is how interest rates on the 5 year ARM have been (green = rates, blue = points paid):


The high (6.37%)  was June 14, 2007.

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