Saturday, January 13, 2007

Daily Real Estate News | January 12, 2007

30-Year Mortgage Rates Climb to 6.21%

Interest on 30-year fixed-rate mortgages jumped to 6.21 percent this week — the highest point since the middle of November, according to Freddie Mac. The rate was up from 6.18 percent the week prior and 6.15 percent a year earlier.

The mortgage finance company also reported a rise in 15-year fixed loans to 5.96 — from 5.94 percent one week ago and 5.71 percent a year ago.

Five-year and one-year adjustable-rate mortgages drifted higher as well. One-year ARMs averaged 5.44 percent this week compared to 5.42 percent last week and 5.15 percent a year earlier. Five-year ARMs weighed in at 6.03 percent, up from 6.02 percent the previous week and 5.76 percent during that same period in 2006.

Source: San Diego Union-Tribune (01/12/07) © Copyright 2006

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