Job Creation, Higher Unemployment Lead to Another Drop in Long Term Mortgage Rates

Lovely the way our economy is going. It's not all sunshine and rainbows the way most will try and tell you it is. Mortgage rate drops are not bad news though to many in the real estate markets.

today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.59 percent with an average 0.4 point for the week ending August 9, 2007, down from last week when it averaged 6.68. Last year at this time, the 30-year FRM averaged 6.55 percent. more