Interest Rates have Dropped

Posted by John Lockwood on January 14th, 2006

Freddie Mac reported that interest rates have dropped this week to 6.15% for the 30 year mortgage. This brings us back to the levels of late October.

There is speculation in the marketplace that thruout the year the rate could edge upward in the range of a half point to 6.5% or thereabouts.

Experts seem to think this could slow down the housing market a bit but overall feel confident that 2006 will be another strong year as inflation worries seem to be ebbing a bit based on certain recent data releases.

Rates on the 15 year fixed and the 1 year adjustable have also edged downward.