Industry NewsMortgage

Plain vanilla loans back above 5%

Freddie: 30-year FRM averaging 5.29% this week
Published on Jun 4, 2009

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by CareyBot

Rates on "plain vanilla" 30-year fixed-rate mortgages shot back above 5 percent this week to a 25-week high, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.

A surge in stock prices and burgeoning government debt is making mortgage-backed securities and long-term Treasuries look less attractive to investors, pushing up their yields.

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