Mortgage Rate Trends for the week 11/20/2006

This week saw the unofficial start to the Holiday Season with Thanksgiving and American homeowners once again have a lot to be thankful for as Atlanta mortgage rates saw yet another week of cross the board falls in interest rates.

According to Bankrate.com’s national survey of large lenders, 30-year fixed rate mortgages once again saw the biggest week-on-week fall with Atlanta mortgage rates for 30-year fixed rate mortgages falling 3 basis points for the week from last week’s 5.74% to this week’s 5.71%.  5-year adjustable rate mortgage rates saw a 2 basis point fall week-on-week from last week’s 5.55% to this week’s 5.53%.  15-year fixed rate mortgage rates saw the small fall, of 1 basis point, week-on-week from last week’s 5.49% to this week’s 5.48%.  A one basis point fall equates to one one-hundredth of one percent.