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Interest Rate Averages 2008

2007 Interest Rate Trend
2006 Interest Rate Trend
2005 Interest Rate Trend
2004 Interest Rate Trend

Updated 6-26-08

Loan Type	Average Rate	Change since last week	Points and Fees 1
30 Year Fixed	6.45% Up	0.03% (6.42%) 2	0.6
15 Year Fixed	6.04% Up	0.02% (6.02%)	0.6
5/1 ARM 3	5.99% Up	0.10% (5.89%)	0.7
1/1 ARM	5.27% Up	0.08% (5.19%)	0.6

Using the interest rate averages of the 30-year fixed-rate conventional home mortgage
as a bellwether, the following chart reflects the overall interest rate trend in 2008.

30 year Fixed-Rate Mortgage January 2008 to June 2008 2007 2006 2005 2004

6.07	5.87	5.69	5.48	5.68	5.67	5.72	6.04	6.24	6.03	6.13	5.87	5.85	5.88	5.88	5.88	6.03	6.06	6.05	6.01	5.98	6.08	6.09	6.32	6.42	6.45


Jan 03	Jan 10	Jan 17	Jan 24	Jan 31	Feb 07	Feb 14	Feb 21	Feb 28	Mar 06	Mar 13	Mar 20	Mar 27	Apr 03	Apr 10	Apr 17	Apr 24	May 1	May 08	May 15	May 22	May 29	Jun 05	Jun 12	Jun 19	Jun 26

Footnotes:

1 - See How much will a mortgage cost? for an explanation of points and fees.
2 - Green numbers represent interest rate increases
      Red numbers represent interest rate decreases
      Black numbers indicate that the interest rate is unchanged
3 - ARM stands for adjustable rate mortgage. Hybrid ARM's like the
     5/1 are more common. The "5" in 5/1 represents the number of years
     the interest rate is fixed, while the "1" lets you know how many
     times per year the rate will be adjusted after the initial fixed period.
     This combination of a fixed and adjustable rate period is why this type
     of mortgage is often referred to as "hybrid."

Source: Freddie Mac