Rise in Mortgage Rates

[elina]

Hi Folks,
Rates on 30-year mortgages spiked to 6.73 percent this week and rates on 15-year mortgages increased to 6.39 percent from 6.30 percent last week. The "5/1" ARM, set at a fixed rate for five years and adjustable each following year, averaged 6.35 percent compared to 6.29 percent last week. The one-year adjustable rate mortgage, on the other hand, remained at 5.71 percent this week.

Last year at this time, 30-year mortgages averaged 6.74 percent and 15-years were 6.37 percent. The 1-year ARM averaged 5.75 percent and the 5-year was 6.35 percent.

Cheers
Samantha

[uthai]

Thanks for your information that can really help me at many situations...

[OregonLO]

Thanks Elina, that is always useful information to have. Where do you typically get your information?

[securityonefinancial]

yeah tell me about rising rates!!! especially if you have a loan that's not locked and you try and wait for the rates to go while they just climb up by the day....

hopefully there's going to be some light at the end of this tunnel...

[csaba]

I would also like to Thank You for Your posts, and wondering about the information source.