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Mortgage Rates Hit Seven-Week Low 

Nov 26, 2008By

Mortgage rates continued to fall this week, reaching a seven-week low. According to a weekly rate survey published Wednesday by Freddie Mac [stock FRE][/stock], 30-year fixed-rate mortgages averaged 5.97 percent with an average 0.7 point for the week ending November 26, 2008, down from last week’s average of 6.04 percent and below the average of 6.10 percent recorded last year at this time.

3d rendering of a row of luxury townhouses along a street

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