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Mortgage Rates for Major Cities – Week 48 (Nov 30 – Dec 6, 2008)

December 8, 2008 By

Rates have come down steadily over the last week.  Below are the average mortgage rates and points in the top 10 markets in the US.  This week the rates went down by 50 basis point.  Stay tune for next weeks number.

Average mortgage rates and points in the top 10 markets for week #48 (Nov 30 – Dec 6, 2008)

 
  Fixed 15-year Fixed 30-year 5-year ARM
Market Rate Points Rate Points Rate Points
New York Metro 5.65 0.31 5.79 0.21 6.28 0.22
Los Angeles 5.80 0.43 6.11 0.34 6.30 0.62
Chicago 5.77 0.09 5.89 0.16 5.97 0.24
San Francisco 5.41 0.60 5.85 0.38 5.84 0.45
Philadelphia 5.78 0.40 5.95 0.30 6.16 0.28
Detroit 5.74 0.19 5.94 0.11 6.18 0.10
Boston 5.56 0.19 5.87 0.13 6.01 0.09
Houston 5.89 1.01 6.33 0.88 6.33 0.83
Dallas 5.73 0.85 5.89 0.76 6.03 0.71
DC Metro 5.39 0.48 5.61 0.46 6.42 0.58
Brm National Index 5.67 0.45 5.92 0.37 6.14 0.39

Source: BankRate

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