Friday, March 07, 2008

Mortgage Rates Drop

Bankrate.com reports that for the week ending March 6, their survey of national mortgage interest rates shows that "The benchmark 30-year fixed-rate mortgage fell 9 basis points, to 6.32 percent ... One year ago, the mortgage index was 6.19 percent; four weeks ago, it was 5.78 percent."

But note - "The rate on the 30-year fixed made a startling jump Wednesday. It went up a quarter of a percentage point or more in the afternoon -- after Bankrate's research department had gathered the bulk of the day's rate information."

To read more: Bankrate.com

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