Friday, January 11, 2008

January Loan Rates Dropping

Long-term mortgage interest rates continued to fall Tuesday, and the benchmark 10-year Treasury bond yield dipped to 3.78 percent.

The 30-year fixed-rate average sank to 5.55 percent, and the 15-year fixed rate slid to 5.06 percent. The 1-year adjustable rate, however, was up at 5.34 percent.

My recommendations are still to secure a 30 year loan since the margin continues to shrink between the fixed and adjustable rate mortgages.

The 30-year Treasury bond yield slipped to 4.31 percent.