{"id":23,"date":"2008-01-18T09:06:09","date_gmt":"2008-01-18T09:06:09","guid":{"rendered":""},"modified":"2016-08-04T19:53:01","modified_gmt":"2016-08-05T00:53:01","slug":"mortgage-rates-hit-5-75-benchmark-of-2005","status":"publish","type":"post","link":"http:\/\/margaretcanfield.com\/blog\/2008\/01\/mortgage-rates-hit-5-75-benchmark-of-2005\/","title":{"rendered":"Mortgage Rates hit 5.75%!!  Benchmark of 2005."},"content":{"rendered":"<p>Mortgage rates have dropped to their lowest levels since the summer of 2005, as more people become convinced that the economy is in a housing-led slowdown. <\/p>\n<p>&#8211; advertisement &#8211; <\/p>\n<p>\nThe benchmark 30-year fixed-rate mortgage fell 13 basis points, to 5.75 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week&#8217;s survey had an average total of 0.36 discount and origination points. One year ago, the mortgage index was 6.26 percent; four weeks ago, it was 6.21 percent.<\/p>\n<p>The benchmark 15-year fixed-rate mortgage fell 17 basis points, to 5.28 percent. The benchmark 5\/1 adjustable-rate mortgage fell 14 basis points, to 5.67 percent. As usual, the 30-year jumbo, for mortgages exceeding the $417,000 conforming limit, fell less rapidly &#8212; down 5 basis points, to 6.98 percent.<\/p>\n<p>The benchmark 30-year rate hasn&#8217;t been lower than this since July 6, 2005, when it was 5.7 percent. Less than six months ago &#8212; July 25, 2007 &#8212; the benchmark 30-year rate was exactly 1 percentage point higher, at 6.75 percent. It has dropped fairly steadily since then, but the decline accelerated at the beginning of this year. The 30-year fixed has fallen 56 basis points in three weeks, the biggest three-week drop since February 1988.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mortgage rates have dropped to their lowest levels since the summer of 2005, as more people become convinced that the economy is in a housing-led slowdown. &#8211; advertisement &#8211; The benchmark 30-year fixed-rate mortgage fell 13 basis points, to 5.75 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-23","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-lake-geneva-real-estate","7":"entry"},"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/margaretcanfield.com\/blog\/wp-json\/wp\/v2\/posts\/23","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/margaretcanfield.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/margaretcanfield.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/margaretcanfield.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/margaretcanfield.com\/blog\/wp-json\/wp\/v2\/comments?post=23"}],"version-history":[{"count":1,"href":"http:\/\/margaretcanfield.com\/blog\/wp-json\/wp\/v2\/posts\/23\/revisions"}],"predecessor-version":[{"id":585,"href":"http:\/\/margaretcanfield.com\/blog\/wp-json\/wp\/v2\/posts\/23\/revisions\/585"}],"wp:attachment":[{"href":"http:\/\/margaretcanfield.com\/blog\/wp-json\/wp\/v2\/media?parent=23"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/margaretcanfield.com\/blog\/wp-json\/wp\/v2\/categories?post=23"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/margaretcanfield.com\/blog\/wp-json\/wp\/v2\/tags?post=23"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}