Mortgage Interest Rates Fall for Third Straight Week
After rising steadily just before the end of last year in what some feared was the start of a continuing upward trend, interest rates on home loans have dropped for three consecutive weeks in January, according to reports from both Freddie Mac and Bankrate Thursday.
For the week ending January 21, 2010, Freddie Mac reported that the 30-year fixed-rate mortgage (FRM) averaged 4.99 percent (0.7 point), down from the previous week when it was 5.06 percent. Last year at this time, the 30-year FRM averaged 5.12 percent in the GSE’s study.