30-Year Rates Stay at 5.88 Percent; Others Show Decreases

Baltimore Sun (04/18/08)
The 30-year fixed mortgage rate continues to hover around 5.88 percent, where it has been at or near for the past five weeks, according to Freddie Mac. However, the 15-year fixed mortgage rate fell to 5.40 percent during the week ended April 17 from 5.42 percent the prior week. Additionally, the five-year adjustable mortgage rate slipped to 5.48 percent from 5.56 percent; and the one-year ARM dropped to 5.10 percent from 5.18 percent. Freddie Mac chief economist Frank Nothaft notes that March housing starts, April consumer sentiment and home builder confidence reached lows not seen in many years.