Friday, January 23, 2009
Real Estate Mortgage Rates
The real estate market is reflecting the concern that the next stimulus package will stir inflation. Bankrate.com reports that "The benchmark 30-year fixed-rate mortgage rose 31 basis points to 5.59 percent ... One year ago, the mortgage index was 5.57 percent; four weeks ago, it was 5.84 percent."
During 2007, the same 30-year fixed-rate mortgage topped out at 6.77%, and has enjoyed a nearly steady decline.
To read more: Bankrate.com