FreedomWide- DEBT CONSOLIDATION, LOWER MONTHLY PAYMENTS, CONSOLIDATE DEBT

CHICAGO (MarketWatch) — Fixed-rate mortgage rates leaped higher this week, nearly reaching levels seen at the beginning of the year, according to Freddie Mac’s weekly survey, released Thursday.”In contrast, average rates on adjustable-rate mortgages are about 0.5 percentage points below levels of the first week of this year,” said Frank Nothaft, Freddie Mac vice president and chief economist, in a news release.”As the spread between long-term fixed-rates and adjustable-rates widens, it’s possible we could see a slight increase in the popularity of adjustable-rate mortgages,” Nothaft said.The 30-year fixed-rate mortgage averaged 6.04% for the week ending Feb. 21, up from 5.72% last week. The mortgage averaged 6.22% a year ago. It started the year averaging 6.07%, during the week ending Jan. 3.Read Full Article

Tags: 30 yr fixed, fixed rates, Mortgage News

This entry was posted on Thursday, February 21st, 2008 at 6:35 pm and is filed under Mortgage Interest Rates, Mortgage News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.