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Friday, February 6, 2009

Mortgage Rates Rise, Despite Fed's Efforts

From Realtor Magazine Online, Daily Real Estate News February 6, 2009

Despite the Federal Reserve's campaign to lower mortgage rates, Freddie Mac reports a jump in the 30-year fixed rate to 5.25 percent in the week ended Feb. 5 from 5.10 percent the prior week.

Experts say home-loan interest is on the rise because long-term Treasury bond yields have climbed and because mortgage lenders are upping rates to ease the flood of refinancing applications.

Source: The Los Angeles Times, Tom Petruno (02/06/09)
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