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Tuesday, March 2, 2010

Mortgage rates

30-year fixed loan breaks barrier for the first time in three weeks

According to AP Associated Press:
Rates for 30-year home loans rose above the 5 percent threshold for the first time in three weeks, but remained near historically low levels.

The average rate on a 30-year fixed rate mortgage was 5.05 percent this week, up from 4.93 percent a week earlier, mortgage finance company Freddie Mac said Thursday.

Rates had dropped to a record low of 4.71 percent in December, pushed down by an aggressive government campaign to reduce consumers' borrowing costs.


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