Average 30-Year Mortgage Dips to 6.22%(December 30, 2005) --
The national average commitment rate on a 30-year, fixed mortgage slipped to 6.22 percent from 6.26 percent the week before, according to Freddie Mac.
The agency reports that long-term mortgage costs fell in the latest week in response to recent government reports, including one implying that inflation is in check.
The national average commitment rate on a 15-year, fixed mortgage dropped to 5.76 percent from 5.79 percent.
Adjustable-rate mortgages were lower this week as well, with the average rate on a one-year, adjustable-rate mortgage sinking to 5.15 percent from 5.22 percent and the five-year hybrid ARM dipping to 5.79 percent from 5.82 percent.
Source: Chicago Tribune (12/30/05)
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