Mortgage rates up ... again!
Yes, mortgage rates went up again (the second week in a row we've reported this). Attributed to investors moving money from bonds to stocks, the rate on the 30 year fixed mortgage is now at 5.76%, up from the 5.7% we reported last week.
These increases in interest rates affect both home buyers and home sellers. As interest rates rise, buyers are able to afford less, and sellers ... this means they may not be able to afford your home!
To read Bankrate.com's 7/14/05 report on interest rates, go here.