Industry NewsMortgage

Prime loans dip below 5%

Slow economy, Fed support pushing rates down
Published on Jan 15, 2009

Watch Connect NYC 2017 Live
Tune in live as the best and brightest explain how to execute and grow your business from the main stage of Connect.

Rates on 30-year fixed-rate mortgages dropped below 5 percent this week -- something never seen before in the 37 years Freddie Mac's been conducting its Primary Mortgage Market Survey.

The 30-year fixed-rate mortgage (FRM) averaged 4.96 percent with an average 0.7 point for the week ending Jan. 15, down from 5.01 percent last week and 5.69 percent a year ago.