December 23, 2005

Morning Feed

MORTGAGE RATES FLAT LINE: The benchmark 30-year fixed-rate mortgage fell one basis point to 6.33 percent this past week, according to the Bankrate.com national survey. One year ago, the mortgage index was 5.75 percent, and four weeks ago it was 6.32 percent. The benchmark 15-year fixed-rate mortgage fell 1 basis point, to 5.91 percent.

Fed rate hikes nearing an end says David Wessel of the Wall Street Journal. After Sir Alan Greenspan calls it quits on Feb 1., newbie Ben Bernanke's first move (Wessel is not saying when) will be to lower rates. This would mean only one more quarter point hike before Greenspan says "hasta la vista."

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