Mortgage rates climb ... again
"Is this a trend?" We are being asked that question more and more these days. We believe people are looking for an answer in this real estate market. Are rising interest rates going to cool this hot Southern California real estate market? Are interest rates going to go up and up ... to double digit rates? What does your crystal ball say??
Well, once again we are reporting to you that the average 30 year fixed mortgage rate has risen for the week ending July 20, as reported by Bankrate.com. The rate now stands at 5.78% (compared with 5.76% last week).
Please remember that this is still less than 6%!
To read more, go here.