Long-Term Rates Dip Slightly

McLEAN, Va. - (08/19/05) -- Long-term mortgage rates declinedthis week, after rising the previous six weeks, according toFreddie Mac. The average for the benchmark 30-year, fixed-rate loanslipped to 5.80% this week, from 5.89% last week; while the averagefor the 15-year, fixed-rate mortgage dropped to 5.40%, from 5.47%.ARM rates were mixed, with the average for the one-year ARM inchingup to 4.58% this week, from last week's 4.57%; and the average forthe five-year ARM dipping to 534%, from 5.40%.