Saturday, May 26, 2007

Mortgage rates at 16 week high

Bankrate.com reports that "The benchmark 30-year, fixed-rate mortgage rose 10 basis points to 6.42 percent ... One year ago, the mortgage index was 6.69 percent; four weeks ago, it was 6.27 percent." This is the highest rate since the end of January.

Explanations for this increase are mixed.

To read more: Bankrate.com

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