Mortgage Rate Trends for the week 05/04/2007

With little significant financial economic news being reported this week, Atlanta mortgage rates did not see any significant movement over the past seven days.  According to Bankrate.com’s national survey of large lenders, 30-year fixed rate mortgage rates gained one basis point during the week to end the week at 6.28 per cent.  15-year fixed rate mortgage rates saw a similar week-on-week increase of one basis point to end the week at 6.00 per cent.  5-year adjustable rate mortgage rates likewise rose by one basis point to end the week at 6.13 per cent.  A basis point is one hundredth of one percentage point (0.01 per cent).  Having said that Atlanta mortgage rates saw out a relatively flat week this week, homeowners should expect to see some movement in Atlanta mortgage rates over the coming week with the release of some more weighty economic data that analysts have long been expecting.