Mortgage Rates Fall Further

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McLEAN, Va. - (06/24/05) -- Mortgage rates fell across the boardthis week, resuming a decline that was halted briefly last week,according to Freddie Mac. The average for the benchmark 30-year,fixed-rate mortgage dipped to 5.57% this week, from 5.63% lastweek; while the average for the 15-year, fixed-rate loan slipped to5.16%, from 5.22%. ARM rates also declined, with the five-year ARMaverage falling to 5.05%, from 5.10% last week, and the one-yearARM average slipping to 4.23%, from 4.25%.

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