Mortgage Rates Are Falling

February 23, 2007 By

Mortgage rates have fallen on news of the housing market slowdown – 30-year fixed-rate mortgage declined to 6.22 percent from 6.30 percent, which is on par with rates a year ago.

NEW YORK (CNNMoney.com) — Mortgage rates fell in the past week as lenders showed concern for the effect the slowing housing market would have on the economy, according to a survey released Thursday.

Filed Under: Mortgage Information

Comments

  1. Walt Mager says
    October 26, 2007 at 1:26 pm

    I am a product of home purchasing in the 1970’s and 1980’s. My first home was purchased with 20% down at a rate of 8-1/4 % in 1974, my next home was purchased at an adjustable rate of 13-1/4 percent. Most of the home buyers of today don’t have a clue as to what it really costs to buy a home in a bad market, 6% is not so bad.