Standard 30-year fixed loan is now 5.08 percent, up from 4.96 percent
It Seems that rates are slowly climbing up – According to the Associated Press:
“Rates on 30-year fixed mortgages climbed above 5 percent this week as a Federal Reserve program geared to keep interest rates low came to an end.
The average rate on a 30-year fixed rate mortgage rose to 5.08 percent this week from 4.99 percent last week, mortgage finance company Freddie Mac said Thursday. At the same time last year, the average rate for a 30-year fixed mortgage was 4.78 percent.
Rates on 30-year fixed
mortgages fell to a record low of 4.71 percent in December and have hovered around 5 percent since. Rates were kept down by the Fed’s $1.25 trillion program to buy up mortgage-backed securities issued by Freddie Mac and sibling company Fannie Mae.”
Full Story: http://www.msnbc.msn.com/id/7148582/ns/business-real_estate/
Tags: Canadian Investors, closeout prices, Investment location, Mortgage rates in Arizona, Scottsdale Real Estate
