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Mortgage Rates on a Roller Coaster

July 5th, 2009 2:50 PM by Ron Mastrodonato

Mortgage Rates on a Roller Coaster 
After spiking to six-month highs a couple of weeks ago, mortgage rates fell again last week only to rise again this week. 

Interest on 30-year fixed mortgages settled at an average of 5.42 percent this week, reports Freddie Mac, up from 5.38 percent in the previous week but lower than the prevailing rate of 6.45 percent a year ago. 

Five-year, hybrid adjustable-rate mortgages also bumped up a couple of notches to 4.99 percent, but 15-year fixed loans and one-year ARMs moved in the opposite direction. The former slipped to 4.87 percent from 4.89 percent, while the latter fell to 4.93 percent from 4.95 percent. 

Source: Wall Street Journal (06/26/09) 

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Posted by Ron Mastrodonato on July 5th, 2009 2:50 PM


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