30-year fixed rate at 5.62%!

Long-term mortgage interest rates fell Thursday, and the benchmark 10-year Treasury bond yield dropped to 3.33 percent.
The 30-year fixed-rate average dipped to 5.62 percent, and the 15-year fixed rate sank to 5.08 percent. The 1-year adjustable rate rose to 5.53 percent.
The 30-year Treasury bond yield slipped to 4.17 percent.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.

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Fed cutting rates again!

In an emergency move to prop up credit markets, the Federal Reserve cut the discount rate to 3.25 percent over the weekend and expanded the list of banks and financial institutions that can borrow money at that rate.

Mortgage rates Rise for Third Week in Row!

Freddie Mac reports a jump in the 30-year fixed mortgage rate to a more than three-month high of 6.24 percent during the week ended Feb. 28. The previous week rates stood at 6.04 percent. The jump marked the third consecutive weekly increase.

Interest on 15-year fixed-rate mortgages climbed to 5.72 percent from 5.64 percent over the same period. Meanwhile, the five-year adjustable mortgage rate edged up to 5.43 percent from 5.37 percent. The one-year ARM shot up to 5.11 percent from 4.98 percent.