Mortgage Rates Climb This Week
Freddie Mac reports an increase in the 30-year fixed mortgage rate to 6.73 percent this week, up from 6.63 percent a week ago. Chief Economist Frank Nothaft expects the benchmark to remain at or near this level for the remainder of the year.
The 15-year mortgage rate edged up at 6.39 percent from 6.3 percent over the same time span, and the five-year adjustable mortgage rate climbed to 6.35 percent from 6.29 percent.
Meanwhile, interest on one-year ARMs held steady at 5.71 percent. Nothaft attributes the jump in borrowing costs to a positive June jobs report and a jump in consumer credit in May.
Source: The Wall Street Journal (07/13/07)
The 15-year mortgage rate edged up at 6.39 percent from 6.3 percent over the same time span, and the five-year adjustable mortgage rate climbed to 6.35 percent from 6.29 percent.
Meanwhile, interest on one-year ARMs held steady at 5.71 percent. Nothaft attributes the jump in borrowing costs to a positive June jobs report and a jump in consumer credit in May.
Source: The Wall Street Journal (07/13/07)
posted by Brittany Nigh at 2:39 PM
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