U.S. mortgage rates fall

November 21 2007 MarketWatch.com Mortgage rates dropped this week, allowing the 15-year fixed-rate mortgage to fall to a level last seen in February 2006, according to Freddie Mac's weekly survey, released on Wednesday. "Both the producer price index and the consumer price index remained contained in October while industrial production fell," Frank Nothaft, Freddie Mac chief economist, said in a news release. "This allowed interest rates for the 30-year fixed-rate mortgage to decline to the lowest levels since early May 2007 and the 15-year fixed-rate mortgage to fall to a level not experienced since early last year."

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