Mortgage Rates Rising

March 17, 2008

Mortgage rates are rising as we’ve moved into March. This will probably motivate more prospective home buyers and other borrowers to lift themselves off their fence-sitting position and take action before rates rise further. The rate for a 30-year fixed-rate mortgage now average 6.24 percent, with 0.5 point (fees), according to Freddie Mac, a major government sponsored buyer of existing mortgages. Last year at this time, the rate was 6.18 percent. The average rate for a 15year fixed mortgage is 5.72 percent.

source: Jim Woodard

Posted in Lending, Real Estate