Saturday, January 01, 2005

Wondering what happened to interest rates during 2004?

Bankrate.com reports that long-term interest rates ended 2004 where they began the year! Yes, they went up and down throughout the year.

The December 30 report states "In the last week, the benchmark 30-year fixed-rate mortgage rose 8 basis points to 5.83 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week's survey had an average total of 0.35 discount and origination points. One year ago, the mortgage index was 5.88 percent."

To read the article online, go here.

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