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September 01, 2005
Higher gas prices bring lower mortgage rates
It's hard to predict how the aftermath of Hurricane Katrina will affect mortgage rates and the housing industry. So far, there seems to be a trade-off: Higher prices at the gas pump result in lower mortgage rates. The benchmark 30-year fixed-rate mortgage fell 6 basis points to 5.80 percent, according to the Bankrate.com national survey of large lenders. The benchmark 15-year fixed-rate mortgage fell 4 basis points to 5.43 percent. The benchmark 5/1 adjustable-rate mortgage fell 6 basis points to 5.41 percent. Visit BankRate.com for full news report.
Posted by QiRealtyEditor at September 1, 2005 09:10 AM