30-Year Rate Back Above 5 Percent — New York Real Estate

30-Year Rate Back Above 5 Percent

by John Tayeb on April 5, 2010

mortgage rates

Mortgage rates rose to 5.08 percent from 4.99 percent a week ago, pushing the average interest rate offered on 30-year fixed-rate mortgages to its highest level since the first week of 2010, according to Freddie Mac.

The increase in mortgage rates occurred as long-term interest rates rose higher due to concerns about inflation as the economy improves, and as the Federal Reserve ended its program to buy $1.25 trillion in mortgage-backed bonds issued by Fannie Mae, Freddie Mac and other government-sponsored agencies.

Also, the 15-year fixed mortgage rose to 4.39 percent from 4.34 percent, while 5-year hybrid mortgages fell to 4.10 percent from 4.14 percent.

Source: Los Angeles Times, E. Scott Reckard (04/02/10)

inflation, Mortgage Rates, mortgage-backed bonds, New York homes, new york real estate, new york real estate news, NY real estate, NY real estate news, NYC, nyc real estate, nyc real estate news

Posted via web from New York Real Estate Access | Real Estate Blog

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