Thursday, November 02, 2006

Mortgage rates DOWN!

Bankrate.com reports (as of November 2nd) that the "30-year, fixed-rate mortgage fell 15 basis points to 6.31 percent ... One year ago, the mortgage index was 6.37 percent; four weeks ago, it was 6.31 percent."

Also, the Mortgage Bankers Association reports a steep drop off in mortgage applications, stating that "mortgage applications fell 3.3 percent last week and are 11.2 percent lower than the same week last year."

To read more: Mortgage rates plunge

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