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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  June 27, 2008  |   Mortgage Rates Continue to Climb
Freddie Mac reports modest gains in fixed mortgage rates during the week ended June 26, with the 30-year rate rising to 6.45 percent from 6.42 percent a week ago and the 15-year rate climbing to 6.04 percent from 6.02 percent.

Uncertainty before the Federal Reserve's recent policy committee meeting sparked bigger increases in adjustable-rate mortgages, says Freddie Mac chief economist Frank Nothaft. The five-year ARM moved up to 5.99 percent from 5.89 percent, and the one-year ARM jumped to 5.27 percent from 5.19 percent.

Source: The Wall Street Journal (06/27/08)

© Copyright 2008 Information Inc.

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