Interest Rates Decline Fourth Straight Week
Average rates for U.S. 30-year, fixed-rate mortgage interest rates declined to 5.48 percent compared to 5.69 percent the previous week, the Associated Press reported January 24, 2008.
"It was the fourth consecutive decline and the third straight week that rates have been below the 6 percent level. The new rate marked the lowest point for 30-year mortgages since they averaged 5.40 percent the week of March 25, 2004."
Rates on 15-year, fixed-rate loan, a popular choice for home owners who want to refinance, dropped to 4.95 percent, down from 5.21 percent the previous week.
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