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Mortgage Rates Fall Again As Recession Fears Grow

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The Tampa Tribune

Published: February 8, 2008

WASHINGTON - Rates on 30-year mortgages dipped slightly this week, the fifth decline in the past six weeks.
Mortgage company Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 5.67 percent this week, down from 5.68 percent last week.

The 30-year mortgage, which ended last year at 6.17 percent, has been below 6 percent for five weeks, the longest stretch since 2005.

Analysts attributed the declines to growing fears that the country could be slipping into a recession.

Other mortgage rates also declined this week. Rates on 15-year mortgages, popular for refinancing, dipped to 5.15 percent, compared with 5.17 percent last week.

Rates on five-year adjustable-rate mortgages declined to 5.21 percent, down from 5.32 last week.

The Associated Press

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