A rise in mortgage rates

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Worth noting: The recent concern over the health of Fannie Mae and Freddie Mac has pushed mortgage rates higher.

From today’s New York Times: ‘The average interest rate for 30-year fixed-rate mortgages rose to 6.71 percent on Tuesday, from 6.44 percent on Friday, according to HSH Associates, a publisher of consumer rates. The average rate for so-called jumbo loans, which cannot be sold to Fannie Mae and Freddie Mac, was 7.8 percent, the highest since December 2000.

From The Wall Street Journal: ‘Home-mortgage rates are nearing their highest levels in a year, adding to pressures on the already weak housing market.’

Posted by Peter Viles
Hat tip: It All Happens On the Margin
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