Mortgage interest rates rise in week
Posted on: Thursday, 28 May 2009, 10:16 CDT
Interest rates for 30-year, fixed-rate U.S. mortgages increased in the week ending May 28, the Federal Home Loan Mortgage Corp. said Thursday.
The 30-year, fixed-rate mortgage averaged 4.91 percent with an average 0.7 points in the week, Freddie Mac said.
A week ago, 30-year, fixed-rate mortgages averaged 4.82 percent. A year ago, 30-year interest rates were 6.08 percent for fixed-rate loans.
At 4.53 percent with an average 0.7 points, the 15-year, fixed-rate average also rose. A week ago, interest rates for 15-year fixed-rate loans averaged 4.5 percent. A year ago, 15-year fixed-rate mortgages averaged 5.66 percent, the report said.
Although interest rates remain low, housing continues to be a drag on the economy,
said Frank Nothaft, Freddie Mac vice president and chief economist.
Although single-family existing home sales rose 2.5 percent in April, inventories of homes for sale also rose to 9.6 months from 9.0 in March,
Nothaft said.
Source: United Press International
Related Articles
- Cities of Monterey, Pacific Grove and Seaside Team With California American Water, EPA for 'Fix a Leak Week' March 16-20
- Pennsylvania American Water Teams With EPA for Inaugural 'Fix A Leak Week'
- PHCC Urges Members and Homeowners to Participate in First 'Fix a Leak Week,' March 16-20, 2009
- Arizona American Water & EPA Team Up for 'Fix a Leak Week' March 16-20th
- US Family Health Plan Earns Member Satisfaction Rating 42 Percent Above the National Average
- One Person Left in Hospital After Montreal College Shooting Two Weeks Ago
- Huge Meth Seizure Shatters Georgia Record Set Just Two Weeks Ago
- Pittsburgh Business Group on Health's Prescription Drug Program Grew By 20 Percent and Beat National Average
- Bremer Escaped Iraq Attack Two Weeks Ago
- Bremer Escaped Iraq Ambush Two Weeks Ago
 |
 |
User Comments (0)
RSS Feeds