Mortgages
Rates on 30-year mortgages fell for the third straight week, dropping to the lowest level in five months.
Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages dipped to 6.24 percent this week, down from 6.26 percent last week.
It was the third straight weekly decline after rates hit 6.40 percent. Analysts attributed the decreases to mounting evidence that the economy is starting to slow.
Mortgage rates fell across the board this week.
Rates on 15-year fixed-rate mortgages, a popular choice for refinancing, averaged 5.90 percent, down from 5.91 percent last week.
Rates on five-year adjustable-rate mortgages averaged 5.89 percent, down from 5.98 percent last week.
Rates on one-year ARMs dropped to 5.50 percent, down from 5.57 percent last week.
People
Lisa Sleister and Skip Felscher have joined the Everett South office of Windermere Real Estate as sales agents.
Workshops
Gary McLean, a Windermere real estate agent, and mortgage experts at Bank of America’s Snohomish branch, will host a homebuyers’ workshop from 7:30 to 8:45 p.m. Tuesday at the Snohomish Library, 311 Maple Ave. To register or get more information, call Rick Morgan, 360-568-4131.
Send your 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 at economy@heraldnet.com.
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