Mortgage rates at 2-1/2 year high
Diana Heeb Bivona
Mortgage rates rose for the second consecutive week, to the highest level in more than two and a-half years. According to Freddie Mac, the average rate on 30-year fixed-rate mortgages rose to 6.43 percent for the week ending April 6, up from the prior week’s 6.35 percent. The 30-year has not been this high since Sept. 5, 2003, when it was 6.44 percent.
Freddie Mac is estimating economic growth of 3.8 percent in 2006, up from the 3.2 percent in 2005. In turn, this may warrant more Fed rate hikes than previously expected. If that occurs, mortgage rates may continue their gradual upward trend.
For more information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.
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