Industry News

Real estate rates climb for fifth week

More Fed hikes likely as inflation grows
Published on Apr 27, 2006

Mortgage rates were up for the fifth straight week, boosted in part by strength in existing-home sales and the economy, according to surveys conducted by Freddie Mac and Bankrate.com. In Freddie Mac's survey, the 30-year fixed-rate mortgage grew to an average 6.58 percent for the week ended today, up from last week's average of 6.53 percent. The 30-year fixed has not been higher since the week ending June 20, 2002, when it averaged 6.63 percent. The average for the 15-year fixed-rate mortgage this week is 6.21 percent, up from last week's average of 6.17 percent. The 15-year fixed has not been higher since the week ending May 31, 2002, when it averaged 6.22 percent. Points on both the 30- and 15-year fixed loans averaged 0.5. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 6.21 percent this week, with an average 0.6 point, up from last week when it averaged 6.16 percent. The one-year Treasury-indexed ARM averaged 5.68 percent, with an average 0.7 point, up from...

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