Fixed mortgage rates drop to six-month lows

Associated Press

WASHINGTON — Mortgage rates around the country fell this week amid increasing signs that the economic recovery is slowing. Rates on 30-year and 15-year mortgages dropped to six-month lows.

Freddie Mac, the mortgage company, reported that the average interest rate on 30-year fixed-rate mortgages declined to

6.76 percent this week, down from 6.81 the previous week, according to a nationwide survey. This week's rate was the lowest since Nov. 23, when 30-year mortgages averaged 6.75 percent. A year ago this time, 30-year mortgages averaged 7.24 percent.

In Hawai'i, 30-year fixed-rate mortgages range from 6.469 percent to 6.832 percent, according to the Honolulu Board of Realtors' Web site. The figures are yesterday's annual percentage rates based on 20 percent down, $200,000 owner-occupant mortgages.

In November, 30-year mortgage rates nationwide dropped to 6.45 percent, their lowest point since Freddie Mac began conducting its survey in 1971.

Fifteen-year mortgages fell to 6.22 percent this week. That was down from 6.28 percent the week before and marked the lowest level since Nov. 16 when 15-year mortgages averaged 5.98 percent. A year ago, 15-year mortgages averaged 6.78 percent.