Mortgage Rates Increasing
As many have been predicting, mortgage rates are starting to rise, reports the Wall Street Journal: rates were up last week to 5.07%, from 5.02% two weeks ago. Some see big jumps coming, reads the headline.
“To lock in the average 5.07% rate, borrowers had to pay fees equivalent to around 1.1% of the loan with a 20% down payment,” reports WSJ. “While rates have been low for most of the year—particularly since falling below 5% in September for the second time this year—one big question looming is what happens to those rates once the Federal Reserve slows, and ultimately stops, its debt purchases from Fannie Mae and Freddie Mac.”
Tags: fannie mae, federal reserve, freddie mac, mortgage rates, wall street journal
This entry was posted on Thursday, October 22nd, 2009 at 8:59 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
October 22nd, 2009 at 10:58 am
Steve Andrascik says:Dave, as I have said before, it seems for every step forward the real estate industry takes some force causes it to take a step backwards. In this case that force is going to be the increased interest rates.
October 22nd, 2009 at 11:05 am
Craig Richardson says:Inflation has to start rearing its ugly head at some point. Just a matter of time.
October 22nd, 2009 at 12:33 pm
Peggy Chirico says:All the more reason to get buyers off the fence. Prices are great, rates are good, and the time to buy is now.
November 17th, 2009 at 5:16 pm
the wall street journal says:Who says the internet is full of garbage?? Great post, I was searching for the wall street journal and came across it. Glad I did….