The Real Deal Miami

Mortgage rates reach 11-month low

December 05, 2008 10:38AM

Rates on 30-year mortgages plunged this week to an average rate of 5.53 percent, the lowest since January. The average for a 30-year, fixed-rate mortgage was 5.97 percent last week. For 15-year, fixed-rate mortgages, rates averaged 5.33 percent.