Atlanta Mortgage Rate Trend for the week 09/18/2006

Across the board healthy falls were seen in this week’s Bankrate.com’s national survey of large lenders, week-on-week, from the previous week.  Atlanta 30-year fixed-term mortgage rates fell a very healthy 8 basis points for the week from 5.94% to 5.86%, making the 30-year fixed-rate mortgage rates the healthiest fall of the week.  Both the 15-year fixed-rate and 5-year adjustable-rate mortgage rates also fell 7 basis points from 5.64% to 5.57% and 5.69% to 5.62%, respectively.  A fall of one basis point equates to one-hundredth of one percent.

This slightly more significant fall in overall US home mortgage loan rates, as surveyed by Bankrate.com, will, however, have gone some way to appeasing US homeowners concerned that a cooling US housing market may be dampening the chances of seeing any real equity appreciation in the coming months in certain segments of the US housing market.