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Friday, June 6, 2008

30-Year Rates Continue to Climb

From Realtor Magazine Online, Daily Real Estate News June 6, 2008

Freddie Mac reports a slight gain in the 30-year fixed mortgage rate to 6.09 percent during the week ended June 5 from 6.08 percent the prior week, marking a nearly three-month high.

The increase can be attributed to concerns about inflation, with investors and analysts interpreting recent comments by Federal Reserve Chairman Ben Bernanke to mean an end to interest-rate cuts as the central bank moves to prevent out-of-control inflation.

Source: Baltimore Sun (06/06/08)
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