Mortgage interest rates unchanged
Bankrate.com reports that for the week ending September 14, interest rates remain virtually unchanged.
The site reports that "The average 30-year fixed-rate mortgage increased from 5.8 percent to 5.84 percent, and the average 15-year fixed mortgage rate increased by a similar amount, rising from 5.39 percent to 5.44 percent. The average jumbo 30-year fixed rate climbed above the 6 percent barrier to 6.02 percent from 5.97 percent last week."
It will be interesting to follow the impact that Hurricane Katrina may/will have on interest rates. Stay tuned for that analysis!
The Federal Open Market Committee meets again September 20.
To read more, and see current interest rates for different loan programs, go here.