Amy Crews Cutts Quotes
Lower figures for the recently released producer-price index and consumer-price index, and lower but still strong gross domestic product, combined with the seasonal slowdown in the housing market led to another decline in mortgage rates this week. 
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Figures | Released | Producer | Price | Index |
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The 30-year [fixed-rate mortgage] came in under 6 percent for the last 22 weeks of this year. As a matter of fact, mortgage rates in 2004 averaged around 5.84 percent, the second lowest annual rate ever recorded in the history of Freddie Mac's Primary Mortgage Market Survey.
- Amy Crews Cutts
The interest-rate savings are not a primary driver of the decision to refinance a fixed-rate mortgage in the current environment. Now, the dominant refinance borrower is looking at the best way to consolidate debt or finance a big project such as a home improvement. And we also have borrowers who took out adjustable-rate mortgages in recent years that are scheduled to have their payment reset this year that may be looking at the option to refinance into a fixed-rate product or into another adjustable-rate mortgage.
- Amy Crews Cutts