30-Year Mortgage Rates Fall Under 6%

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Freddie Mac reports a drop in the 30-year fixed mortgage rate to 5.94 percent during the week ended Oct. 9, marking the first decrease in three weeks.

The 15-year fixed rate slipped to 5.63 percent from 5.78 percent the previous week.

Meanwhile, the five-year adjustable mortgage rate dropped a notch to 5.9 percent from 6 percent; and the one-year ARM dipped slightly to 5.15 percent.

Source: Miami Herald (10/10/08)

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