Friday, January 23, 2009

Real Estate Mortgage Rates

The real estate market is reflecting the concern that the next stimulus package will stir inflation. 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.

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