Home Mortgage Rates Jump to Over 6%
Freddie Mac reports a jump in the 30-year fixed mortgage rate to 6.03 percent during the week ended April 24, from 5.88 percent the prior week, marking the first time in six weeks that mortgage rates rose above 6 percent.
The 15-year fixed mortgage rate climbed during the same period, edging up to 5.62 percent from 5.40 percent.
The five-year adjustable mortgage rate increased to 5.68 percent from 5.48 percent, while the one-year adjustable rate shot up to 5.28 percent from 5.10 percent. San Diego County California real estate homes for sale
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The mortgage industry has been as volatile as ever lately–especially with interest rates, loan programs and the housing market in general. Unlike the past, we are in unchartered territory as far as economic models go.
Karen
San Diego Medical Research Studies
No one put a gun to Bear Stearn’s collective head and made them spread risk ineffectively and invest in sketchy sub-prime mortgage securities. They did it all by themselves. Yet here we see a government-backed takeover to shore up confidence in a financial system that seems unable to take care of itself. Laissez-faire? Quite the opposite, it appears. What kind of message does this send to other financial institutions? Can they now expect similar access to the “discount window” that had been reserved for institutions that work with taxpayers, not investors?
Rick
San Diego Bail Bonds
Measuring the percentage of total mortgages in foreclosure does not tell the whole story. Late payments on credit cards, revolving charge accounts and automobile loans are worrying the Fed also. And the number of mortgages in foreclosure today also does not speak to the number that are expected to follow.
Andrew
Acne Medications
People want MORE than what they can afford. If they did not, there would be no such thing as a credit card or a mortgage to begin with. If you want to be 100% honest, the only people that can “AFFORD” to purchase a home are the ones that can pay cash. EVERYONE ELSE…LITERALLY EVERYONE ELSE is at risk of borrowing money and not being able to pay it back. They could lose their job. They could die. Anything could happen.
Ethan
Adult Acne