Mortgage rates have declined for the second week in a row. Freddie Mac says the 30 year fixed rate mortgage averaged 5.65% for the week ending Wednesday May 25, 2005. The average 15 year fixed rate mortgage is 5.21%. The one year Treasury-indexed rate is 4.21%. Points are .06-.07.
An interesting side note is that housing is accounting for about 20% of the real GDP in the last quarter.
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