Mortgage rates over the past week have been on a steady decline with news that inflation at this point seems to be under control.

The Fed as well seems to have indicated that they will not, for the time being need to increase the Fed Fund Rate.

As well The housing slump may be close to an end and with the lowering of interest rates we may start to see some additional activity in the market place.

Below is a sampling of Bankrate.com's average 30-year mortgage rates from around the country. These rates reflect a par interest rate and points will apply. These rates also reflect a convetional conforming loan critiria. 95% for purcahse, 95% Rate and Term and 90% for Cash Out.

6.23 percent with 0.08 point  - New York

6.33 percent with 0.41 point  - Los Angeles

6.34 percent with 0.11 point  - Chicago

6.23 percent with 0.45 point  - San Francisco

6.16 percent with 0.48 point  - Philadelphia

6.3  percent with 0.03 point  - Detroit

6.21 percent with 0.22 point  - Boston

6.22 percent with 0.48 point  - Houston

6.22 percent with 0.43 point  - Dallas

6.15 percent with 0.51 point  - Washington, D.C.

For more information on market conditions and how interest rates are affected please contact;

Mark Bustamonte
Certified Mortgage Planning Specialist
markb@mtgplanning.com
www.mtgplanning.com

866-840-2240 Toll Free

Key Words: Rates, Interest Rates, Mortgage