by Calculated Risk on 9/18/2008 10:16:00 AM

This is quite a decline in mortgage rates over the last few weeks.

From MarketWatch: Freddie Mac: 30-year fixed-rate mortgage average drops

Freddie Mac said Thursday the 30-year fixed-rate mortgage average ... was 5.78% with an average 0.6 point for the week ending Sept. 18, compared with 5.93% last week. Last year at this time, the average rate was 6.34%.