U.S. Mortgage Rates Doing a U-turn?
According to a new article on MarketWatch, the average interest rate on a fixed-rate mortgage has risen to 6.73% (over 6.63% of last week). The article cites good employment numbers from June and credit growth as two possible causes for the rise in mortgage rates.
Article excerpt:
The 30-year fixed-rate mortgage averaged 6.73% for the week ending July 12, up from 6.63% last week, according to Freddie Mac’s weekly survey. The mortgage averaged 6.74% a year ago. Freddie Mac forecasts the 30-year fixed-rate to stay around its current level for the rest of the year, Nothaft said.
Posted on July 13th, 2007 by admin