Mortgage Rates Inch Up This Week
Freddie Mac reports a jump in the 30-year fixed mortgage rate to 6.46 percent during the week ended Oct. 30 from 6.04 percent the prior week, as long-term mortgages rates moved in line with long-term Treasury bonds.

The 15-year fixed mortgage rate rose as well, climbing to 6.19 percent from 5.72 percent.

Meanwhile, the five-year hybrid adjustable mortgage rate moved up to 6.36 percent from 6.06 percent; and the one-year ARM increased to 5.38 percent from 5.23 percent.
Freddie Mac chief economist Frank Nothaft expects short-term rates to remain low due to the Federal Reserve's recent cut in the discount and federal-funds rates, and he notes that falling home prices have jump-started residential sales in some markets by making properties more affordable.

Source: The Wall Street Journal (10/31/08)

 
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1 Comments on Wall Street Journal Reports Increasing Mortgage Rates

NOV
03
2008

Are we going to see any reduction in mortgage rates due to the Fed cuting rates last week?  Thanks for the update though it wasn't great news...

Ted
10:43am • #1


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Glenn M. Lavery

North Attleboro, MA

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This is an informational Blog written by Glenn M. Lavery, Realtor at RE/MAX Real Estate Center in North Attleboro MA. I am a Certified Residential Specialist (CRS), Accredited Buyer Representative (ABR) and I hold a Bachelor's and Associate's Degree from area colleges in other fields. I have been a Realtor since 2001.


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