Mortgage rates flat 2005-09-08
NEW YORK (CNN/Money) - Mortgage rates remained near their lowest level in weeks as the disruption in economic activity brought on by Katrina fueled speculation of a slowdown in the last part of this year, Freddie Mac said Thursday. The average rate on 30-year fixed-rate mortgages stayed flat for a second week at 5.71 percent for the week ending Thursday, according to the mortgage finance firm's survey. Long-term mortgage rates are at their lowest level since the week ended July 16, when 30-year fixed-rate mortgage averaged 5.66 percent. Last year at this time, the 30-year fixed-rate loan averaged 5.83 percent. "We expect that near-term growth will now be a bit weaker than had been anticipated, due in very large part to the disruption in economic activity brought on by Katrina last week," said Frank Nothaft, vice president and chief economist at Freddie Mac.

News 2005-09-08
Thursday: 09/08/05 10:30 AM EDT : Following two days of hefty declines, Treasuries made some headway in early trading, but the approach of additional supply coming into the market today is providing some restraint. Stocks are down slightly as oil prices are on the rise once again.