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Fixed mortgage interest rates are moving higher. Both, the average 30 year fixed rate mortgage and the average 15 year fixed rate inched higher per recently posted mortgage data. The rates inch upwards as investor and consumer anxieties increase regarding inflation potentials. It is debatable at this point, but the price increases in food and fuel at the retail level are real and this puts upward pressure on long term interest rates. The economic recovery continues to move forward and as it does, consumer confidence will rise, employers will begin to hire more and the market will have new life. This confidence and increased market action will also support a rise in long term interest rates. Federal Chairman, Ben Bernanke, recently posted words of caution regarding the general recovery trajectory. He stated that the recovery efforts will be long, and even longer if the jobs sector does not improve at an increased rate. So, at this time, long term interest rates will rise slowly and will remain in a range that is still considered relatively low. Bankrate recently posted that the 30 year fixed mortgage rate moved just a bit higher and is trending at 5.02% according to the national survey. The average 15 year fixed mortgage rate is a bit higher as well and is trending at 4.29% according to the national survey. It has been several years since rates have been up above 6 percent but trending trajectories are slowly moving in that direction. Average Freddie Mac rates are posting higher as well. 30 Yr. FRM is posting at 4.8% and 15 Yr. FRM is posting at 4.09% as of recent updates online. Author: Stephen Johnson
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