Mortgage Rates Climb, Again
NEW YORK (Dow Jones)--Long-term mortgage rates rose to their highest levels in nearly four years, Freddie Mac, the congressionally chartered housingfinance agency, said Thursday.
The average for 30-year fixed mortgage rates for the week ending April 20, 2006, was 6.53%, up from 6.49% a week earlier, Freddie Mac said in its weekly primary mortgage market survey. The 30-year fixed mortgage rate has not been higher since July 2002, when it averaged 6.54%, Freddie Mac said. One year ago, the 30-year fixed-rate mortgage averaged 5.80%.
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The average for 30-year fixed mortgage rates for the week ending April 20, 2006, was 6.53%, up from 6.49% a week earlier, Freddie Mac said in its weekly primary mortgage market survey. The 30-year fixed mortgage rate has not been higher since July 2002, when it averaged 6.54%, Freddie Mac said. One year ago, the 30-year fixed-rate mortgage averaged 5.80%.
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posted by Little_Silvered at 5:45 PM
2 Comments:
again how about a relationship between rates and prices historically
This explains some of the relationship between interest rates and home prices, or lack there of.
http://tinyurl.com/rrc5r
"When these models are back tested to older housing data they appear to fail. Historically there are periods of concurrently rising interest rates and home prices and periods of falling interest rates and falling home prices. Does this mean that buyers were making irrational decisions during those prior periods? Or are the interest rate based models flawed. The answer may shock some people: Historically interest rates have been largely irrelevant to the price of a house."
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