Long-Term Mortgage Rates Continue ToFall

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McLEAN, Va. - (04/29/05) -- Mortgage rates dipped lower thisweek, for the fourth week in a row, according to Freddie Mac. Theaverage for the benchmark 30-year, fixed-rate mortgage slipped to5.78% this week, from 5.80% last week; while the average for the15-year, fixed-rate loan slipped to 5.33%, from 5.36%. ARM ratesalso declined slightly, with the average for the five-year ARMdeclining to 5.2%, from 5.33%; and the average for the one-year ARMfalling to 4.21%, from 4.26% last week.

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