30-Year Mortgage Rates At 6.18%

30-year mortgage rates at 6.18%, lowest level since beginning of the year, from MSNBC.com, reports that rates on 30-year mortgages fell for the second straight week to the lowest level since the week of January 4th. The rate fell to 6.18%, down from 6.22% last week. The drop was spurred by this weeks 416-point drop in the stock market, which pushed investors to seek the safety of bonds. Rates on 15-year fixed-rate mortgages fell to 5.92 percent, down from 5.97 percent last week. One year ARMS were unchanged at 5.49 percent. A year ago, rates on 30-year fixed-rate mortgages stood at 6.24 percent. Great time for buyers to capitalize on these continuing low interest rates!

http://www.msnbc.msn.com/id/7148582/