Mortgage Rate Trends for the week 12/04/2006

According to Bankrate.com’s national survey of large lenders, American homeowners are once again enjoying the festive season as Atlanta mortgage rates fell for yet another week to end at not only year lows, but their lowest levels since October 2005!

Atlanta mortgage rates tumbled across the board last week, with 15-year fixed rate mortgage rates since the most dramatic week-on-week fall of 7 basis points from last week’s already year low of 5.42 per. cent. to set yet another benchmark low this week of 5.35 per. cent.  Following close behind, however, where 30-year fixed rate mortgage rates and 5-year adjustable rate mortgage rates, which both saw drops of 6 basis points to end the week at 5.59 per. cent. and 5.41 per. cent., respectively.  A fall of one basis point represents one percentage point of one percent.