Friday, October 14, 2005

Mortgage interest rates UP and UP!

In it's weekly survey, reports that for the week ending October 12, the 30 year fixed interest rate is above 6% for two weeks in a row.

The 30 year fixed rate mortgage is at 6.1%. The article states that "The 30-year fixed hovered at 6 percent or above for four weeks in March and April, then dropped below that threshold for six months. ... One year ago, the mortgage index was 5.75 percent, and four weeks ago it was 5.84 percent."

Statements from the Feds, unemployment and inflation are factors citied as contributing to the current level of interest rates.

To read the online article: interest rate survey.

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