30-Year Mortgage Rates Slip Again
From Associated Press
Rates on 30-year mortgages slipped for a second week as financial markets responded to signals of lower inflation.
Mortgage giant Freddie Mac reported that rates on 30-year fixed-rate mortgages averaged 6.26% this week, down from 6.3% last week.
Rates on 30-year mortgages had hit a two-year high of 6.37% on Nov. 17 but have declined in four of the last five weeks.
Economists said the trend was still for rates to move higher as the Federal Reserve keeps pushing interest rates up to make sure that surging energy prices do not trigger more widespread inflation problems.
