Mortgage Rate Trends for the week 11/13/2006

Atlanta mortgage rates saw another superb tumble across the board according to Bankrate.com’s national survey of large lenders.  Continuing what has been a relative bustle of continuous week-on-week good news for Atlanta homeowners, Bankrate.com’s national survey of large lenders saw 30-year fixed rate mortgage rates fall from last week’s 5.80% to this week’s new benchmark of 5.74%.  This represents a fall of 6 basis points in one week, where a basis point equals one percentage point of one percent. In itself this may not seem like a massive fall in 30-year fixed rate mortgage rates, but given the recent downward trend in offered 30-year fixed rate mortgage rates, it shows a robust and defiant trend is staying the course.Thankfully, 30-year fixed rate mortgage rates were not the only Atlanta mortgage rates to tumble this week.  15-year fixed rate mortgage rates also saw a fall, this time by 3 basis points, from last week’s rate of 5.52% to this weeks 5.49%.  5-year adjustable rate mortgage rates also shrugged off its minor rise last week to rebound back to 5.55%, from last week’s 5.57%, and to end the week only one basis point higher than the low of 5.54% two weeks ago.