Friday, December 10, 2010

Mortgage Rates on the rise?

REALTOR® Magazine-Daily News-Mortgage Rates Jump to 6-Month High: "Mortgage rates rose for a fourth-straight week to reach a six-month high as yields on government bonds continue to rise. The average interest on a 30-year fixed loan hit 4.61 percent, up from 4.46 percent a week ago, Freddie Mac reported.

Also, 15-year fixed loans averaged 3.96 percent, up from 3.81 percent last week; and rates for variable adjustable-rate mortgages floated higher as well."

Alice's comment: Interest rates are still at historically low levels, but if you are thinking of purchasing a home anytime soon, you would be wise to keep an eye on the rates, as they are inching upward. If you have questions about how much a quarter point change in interest rates would affect your monthly mortgage payment, give me a call. 206-708-9800.

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