U.S. Mortgage Rates Decline Sharply
USA Today reported November 29, 2007 that average rates for 30-year, fixed-rate mortgage loans in the U.S. declined to 6.10 percent compared to 6.20 percent the previous week.
The rate is the lowest in two years.
"Analysts attributed the decline to increased worries that a severe slump in housing and a continuing credit crunch could drag the economy into a recession. The recent turbulence in stock markets has prompted many investors to rush to the safety of U.S. Treasury securities, driving down the yields on bonds."
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