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The Honolulu Advertiser
Posted on: Friday, August 15, 2008

30-year mortgages stay flat

Associated Press

WASHINGTON — Rates on 30-year mortgages remained at the same level for a third week while rates on other types of home loans posted small declines.

Freddie Mac, the mortgage company, reported yesterday that 30-year, fixed-rate mortgages averaged 6.52 percent this week.

That was the same rate as the two previous weeks and represented the second highest rate of the year.

The highest rate so far this year was 6.63 percent hit for the week ending July 24.

The nationwide Freddie Mac survey showed that other types of mortgages posted small declines this week.

Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, fell to 6.07 percent, down from 6.10 percent last week.

Rates on five-year, adjustable-rate mortgages averaged 6.02 percent this week, down slightly from 6.05 percent last week. Rates on one-year, adjustable-rate mortgages dipped to 5.18 percent, down from 5.22 percent last week.

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