Thursday, December 24, 2009

30-Year Mortgage Rate Jumps Above 5%

If you haven't locked in your mortgae rate, do it now.

The trend in rates is going to be up for a long, long time.

Interest rates on U.S. 30-year fixed-rate mortgages, the most widely used loan, averaged 5.05 percent for the week ended Dec. 24, up from the previous week's 4.94 percent, according to a survey released by Freddie Mac.

Three weeks earlier the rate was at 4.71 percent, the lowest since Freddie Mac started the survey in 1971.

2 comments:

  1. This happened recently during the time around Memorial Day, then rates came back down. The Fed must have a lot of MBS buyers off on vacation this week from the Asylum.

    Today's rate in the great white north is 5.125%.

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  2. And we accept the accuracy of this survey because Freddie Mac is an organization of unblemished integrity.

    ReplyDelete