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The Honolulu Advertiser
Posted on: Friday, August 4, 2006

Mortgage rate falls second time in row

Bloomberg News Service

WASHINGTON — The average rate on a 30-year fixed-rate mortgage in the U.S. fell to 6.63 percent this week, the second straight decline, according to Freddie Mac. Other rates also slid.

The 30-year rate fell from last week's 6.72 percent and compares with 5.82 percent a year earlier.

The one-year adjustable rate fell to 5.69 percent from 5.78 percent, Freddie Mac said. The 15-year fixed rate fell to 6.27 percent from 6.34 percent.

Rates are for the week ending today.

Freddie Mac, based in McLean, Va., is the second-biggest purchaser of U.S. mortgages. Fannie Mae is the largest.