Wednesday, April 14, 2010

US 30-year mortgage rates jump to 8-month high

NEW YORK, April 8 (Reuters) - Rising bond yields sent U.S. 30-year mortgage rates to the highest level in eight months on the brink of the important spring sales season, data from home funding company Freddie Mac showed on Thursday.

Higher borrowing costs, combined with the end of some massive government interventions to stabilize housing, should curb buying. But pent-up demand after a three-year housing crash is already driving buyer traffic higher, housing experts said.

The 30-year loan rate average jumped to 5.21 percent in the week ended April 8 from 5.08 percent in the prior week and from 4.87 percent a year earlier. link

No comments:

Post a Comment