According to The Mortgage Bankers Association’s Weekly Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages increased to 5.01 percent from 4.95 the week before. Loan application volume also increased slightly, up 0.5 percent from the previous week. There had been speculation that rates would rise one or two percentage points as the Federal Reserve ended its purchases of mortgage-backed securities. But with the program set to expire at the end of the month and rates still near historic lows, some analysts are now predicting rates rising as little as 0.3 percent. More here.
Theresa Springer’s Blog
Interest Rates Go Up, Still Near Historic Lows
March 10, 2010
Leave a Reply