Land Survey

This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.

As you probably know, Gentle Ben Bernanke (pictured) and his Fed friends left their key short-term rate unchanged today at 5.25%.

Long-term rates, and mortgage rates, continued to slip this week -- investors witnessing the carnage in the subprime market are paying more for stability, which drives rates down.

Inman news reports: ‘In Freddie Mac’s survey, the 30-year fixed-rate mortgage dipped to an average 6.67% from 6.69% last week.... In Bankrate.com’s survey, the average 30-year fixed mortgage rate this week in Los Angeles held steady at 6.79%.

Freddie Mac Timeline
6/14 6.74%
6/21 6.69%
6/28 6.67%

Comments? Insights?
Photo Credit: Reuters