Freddie Mac: Mortgage rates fall for week

02/13/2009 | Wall Street Journal (free content), The

Interest rates on fixed-rate home mortgages fell for the week that ended Thursday, according to Freddie Mac. "Interest rates for 30-year fixed-rate mortgages are almost 1.5 percentage points below 2008's peak set on July 24, 2008, offering many homeowners an incentive to refinance. This would translate into a monthly payment savings of around $188 on a $200,000 mortgage," said Frank Nothaft, Freddie Mac vice president and chief economist.

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Wall Street Journal (free content), The

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