US MORTGAGE RATES FALL.. this should cause some activity at RCCK
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U.S. mortgages head lower
By Vincent Safuto, bankrate.com
Last Update: 11:25 AM ET Apr 8, 1999
Personal Finance news
WASHINGTON (bankrate.com) -- Mortgage rates fell this week,
according to the bankrate.com national survey of large institutions.
The 30-year fixed rate fell 5 basis points to 6.96 percent and the 15-year
fixed rate dropped 6 basis points to 6.59 percent. The one-year
adjustable rate rose 1 basis point to 5.83 percent. A basis point is one
one-hundredth of a percent.
The average monthly principal and interest on a $100,000, 30-year
fixed-rate mortgage fell to $663 and the payment on a 15-year loan
slipped to $876.
Bankrate.com's overnight survey found that the average annual percentage
rate nationwide for 30-year fixed rate mortgages is 6.83 percent, down 3
basis point from Wednesday's rate.
Car loans
If you're looking for a new set of wheels, you'll
probably need a loan to get the car of your dreams
off the lot.
In bankrate.com's overnight update, the lowest rate
we found on 48-month new car loans is 6.25
percent at the Jacksonville Federal Credit Union in
Jacksonville, Fla. Call 1-904-359-0491.
The highest rate we found is 12.40 percent at First
Bank Puerto Rico in San Juan-Ponce. Call
1-787-729-8200.
For car loans in your area, click on auto loans.
Many institutions don't provide auto loans
nationwide, but you may be in a better position to
bargain with your local bank if you know how its
rates compare with others across the country.
Overnight averages are based on bankrate.com's database of 3,500
institutions. Rates are updated throughout the week, but change all the
time. For the latest, search bankrate.com's rate tables and check with the
individual institution.
Vincent Safuto writes for bankrate.com, which provided this story
for CBS.MarketWatch.com
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