30-Year Mortgage Rates Rise to 9-Week High
News of a second consecutive monthly increase in home construction, along with other favorable economic reports, helped push rates on 30-year mortgages to an average of 6.23 percent this week — the highest level in nine weeks, according to analysts.
A week ago, 30-year fixed loans averaged 6.21 percent, according to mortgage finance giant Freddie Mac. The improving performance of the economy means the Federal Reserve will be less likely to cut interest rates any time soon. [tags] mortgage rates, loan rates, home loans, interest rates [/tags] downtown San Diego condos
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5 Comments
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This higher loan rate will be short lived. As the economy slows, rates will drop.
Tom
http://www.lasik-surgery-san-diego.info/lasik-eye-surgery-san-diego.htm
Seems like recent homeowners with adjustable home loans will be under much more preasure.
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The feedback from house prices to credit growth is stronger in the
case of countries with more market-sensitive valuation methods for
mortgage accounting. This suggests that prudential rules may have an
impact on the co-movement between residential real estate prices and
the performance of the financial system.
In 2005 most of the commenters on the real estate market were saying there’s no bubble and our mini boom would never end, this is a sure sign that an end is fast approaching.
Alan
San Francisco California Lawyers
It’s just surprising that so many people with the clear signs that were present in 2004 and 2005 didn’t say that the San Diego real estate bubble was about to bust
Jimmie
San Diego California Medical Studies