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SEARCHMortgages Jump as Economy Improves
June 7, 2007
The rates on a 30-Year mortgage rose for a fourth straight week, hitting a level not seen in 10 Months – strong employment growth can be to blame.
Today mortgage giant Freddie Mac reported that 30-year, fixed-rate mortgages averaged 6.53 percent this week, up from 6.42 percent last. This is the highest point for the 30-year mortgage in since averaging 6.55 percent August 10th.
Why are rates increasing? Recent signs of string economic growth outside the housing market. May saw the creation of 157,000 jobs which is double the April number.
For more info visit: http://www.freddiemac.com
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