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Housing Bubble

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Mortgage Rates Drop Slightly 

May 15, 2008By

Mortgage rates fell only slightly last week, accoding to a weekly survey release Thursday morning by Freddie Mac [stock FRE][/stock]. The average rate fo a 30-year fixed-rate mortgage fell 4 basis points to 6.01 percent with an average 0.6 point for the week ended May 15, down from one week earlier when it averaged 6.05 percent. Last year at this time, the 30-year FRM averaged 6.15 percent, Freddie Mac said. Rates of 15-year fixed-rate mortgage averaged 5.60 percent, unchanged from last week.

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