|
Monday, November 24, 2014 - 2:16pm

Say goodbye to ultra-low mortgage rates

Say goodbye to ultra-low mortgage rates
MGN Online Photo
News
Thursday, June 6, 2013 - 8:09am

Say goodbye to ultra-low mortgage rates. In the past month, rates have been on the rise and they are expected to continue to climb.

Last week, the average rate on a 30-year fixed-rate mortgage climbed to 3-point-81 percent. That's up from 3-point-3 percent in early May, according to mortgage giant Freddie Mac.

Those seeking a 15-year loan received an average rate of 2-point-98 percent. That is up from 2-point-56 percent a month earlier which is a record low.
 

Analysts predict the Fed will eventually stop bolstering the housing market. Private investors would then have to pick up the slack, meaning higher rates for borrowers.

Comments News Comments

Post new Comment