30 Year Mortgage Rate Hits 2 1/2 Year High
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
Mortgage Rates jump to highest levels in 2 1/2 years. This should have been expected with the Federal Reserve raising the interest rates last week.
Mortgage giant Freddie Mac in its nationwide survey reported Thursday that rates on 30-year, fixed-rate mortgages averaged 6.43 percent this week, up from 6.35 percent last week.
The increase meant that rates surpassed the previous 2006 high of 6.37 percent set in early March and climbed to the highest level since the 30-year mortgage was at 6.44 percent the week of Sept. 5, 2003. via the Arizona Republic
Where do you think the top end of the rates will end up? I am guessing around 7.35 to 7.65 percent for a 30 year fixed rate mortgage by the middle of next year. Which is not that bad from a historical perspective and looking at how strong the economy is right now.
I was unable to find the information on 30 year mortgage rates historically, but here is a great chart of the gyrations the prime rate has gone through since 1947.
Am I the only one that finds it odd that the ONLY place that looks to be seriously warming is ...
It seems there are numbers posted about how much it could cost the US in home sales from people holding ...
The only people holding off will be those that are financially secure and can manage to hold off. How ...
What an awesome way to generate traffic for a story. Were they trying to time that for Sweeps Week? ...
That's awful. I wonder if using that tactic , if a building can be sold or used as collateral. ...
Good point about people possibly holding off now. The 4.5 percent interest rate could be a self-fulfilling prophecy. 
wow this is a wonderful creation...............i would like to be there once even in my life time........... 
Absolutely agree with Jon, excellent site and very imformative. Keep reporting to us please! 
I will say that had I never been to that site and seen Dean's many deals that he documented and ...
Great Real Estate
post ... very interesting. 
Comment by Frank Kelly on 16 April 2006:
I have a website and brick & mortar mortgage company at http://www.mortgagevictory.com . I have found even with the rising rates a creative imagination and a very happy customer database will help lenders override the current situation. Many of our customers still maintain high interest adjustable mortgages and are switching to fixed rates. While I beleive we are not at the top of this rate adjustment I do not believe we will be back to the 8% days.