Monday, May 29, 2006

30 Year Fixed Rates Rates Continue to Rise

"Rates on 30-year mortgages climbed this week for the eighth time in the past nine weeks, hitting the highest level in nearly four years."

"Freddie Mac, the mortgage company, reported Thursday that rates on 30-year, fixed-rate mortgages averaged 6.62 percent, up from 6.60 percent last week."

"This week's rate was the highest since the week ended June 20, 2002, when 30-year mortgages were at 6.63 percent." (Washington Post 6/27/06)