The 30-year fixed rate mortgage dropped to 5.58 percent from 5.71 percent, making rates at their lowest levels since July2, 2003, according to RisMedia.com. The 15-year dropped from 5.02 to 4.92 percent.
Alan Greenspan's recent Congressional testimony, which included remarks on the Fed's intent to keep rates low and his concern over uncertainty in the job market were blamed for the big rate drop.
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