Business

<< Previous   of   Next >>   ADVERTISEMENT   CONTACT THE HERALD Mike Benbow, Business Editor benbow@heraldnet.com   Published: Sunday, August 17, 2008 Mortgage rates Associated Press WASHINGTON -- Rates on 30-year mortgages remained at the same level for a third week while rates on other types of home loans posted small declines. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.52 percent this week. That was the same rate as the two previous weeks and represented the second highest rate of the year. The highest rate so far this year was 6.63 percent hit for the week ending July 24. Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, fell to 6.07 percent, down from 6.10 percent last week. Rates on five-year, adjustable-rate mortgages averaged 6.02 percent this week, down slightly from 6.05 percent last week. Rates on one-year, adjustable-rate mortgages dipped to 5.18 percent, down from 5.22 percent last week. Seminars Free home buyer education classes will be held by Northwest Plus Credit Union and the McFarland Group for credit union members. They will be held on Aug. 27 and Sept. 24 at the Smokey Point Branch, 17021 Smokey Point Blvd., Arlington; and Sept. 10 at the Everett Branch, 2821 Hewitt Ave. Call Brandon Bogart at 425-367-1723 for registration or information. A class on reverse mortgages and retirement planning issues will be held from 11:30 a.m. to 1 p.m. Wednesday at the Alderwood Business Center Conference Room, 3500 188th St. SW, Suite 121, Lynnwood. It's offered by Steve Bighaus and Tom Lasswell of Stephen-Thomas & Associates of Liberty Financial Group. Call 425-412-5236 for reservations or information. Send real estate news to Mike Benbow, Business editor, The Herald, P.O. Box 930, Everett, WA 98206, by fax at 425-339-3435 or by e-mail to economy@heraldnet.com.

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