Mortgage Rates Tick DownSlightly
WASHINGTON - (12/16/05) Average rates on 30-year, fixed-ratemortgages declined slightly this week to 6.30%, down just two basispoints from one week earlier. The average on the 30-year mortgagehit a two-year high on Nov. 17 at 6.37%, according to Fannie Mae,which noted that some analysts are expecting mortgage rates tosteadily move higher in 2006. The average rate on the 15-year,fixed-rate mortgage was 5.85%, according to Fannie Mae, down from5.87% last week. The one-year ARM declined slightly to 5.15%, whilethe average rate on the five-year, hybrid ARM was 5.77%.