U.S. mortgage rates fell Tuesday

Tue Apr 12, 2005 04:33 PM ET

NEW YORK, April 12 (Reuters) - The average rate on a 30-year U.S. mortgage with no upfront points fell 1/8 of a percentage point on Tuesday to 6 percent, according to BestInfo Inc.

If the mortgage market on Wednesday continues in its current direction, rates may remain the same.

The 30-year mortgage rate with one upfront point fell 1/8 of a percentage point to 5-3/4 percent.

The 30-year mortgage rate with two upfront points fell 1/8 of a percentage point to 5-1/2 percent.

The Mortgage Point Monitor is provided exclusively to Reuters by BestInfo. The company, formerly BestRates Inc., is a Dover, Vermont-based provider of mortgage market analysis.