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Article: FIXED MORTGAGE RATES STAY LOW LONG-TERM INTEREST RATES HAVE FALLEN SLIGHTLY EVEN THOUGH SHORT-TERM RATES HAVE CLIMBED.(BUSINESS)
- Article from:
- The Wisconsin State Journal (Madison, WI)
- Article date:
- December 29, 2004
- Author:
CopyrightCOPYRIGHT 2004 Capital Newspapers. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jason Stein Wisconsin State Journal
Home buyers Rick and Patricia Prida of Waunakee had a major worry this year -- that rising short-term interest rates might make building their dream house unaffordable.
"The (home) price kept going up and up and we were really concerned with the rates going up and up," Patricia Prida, 38, said.
The Pridas needn't have worried. In recent weeks, local lenders say they've seen a continuation of a surprising occurrence -- long-term interest rates for home loans have dropped slightly even as the Federal Reserve is ratcheting up short-term rates.
For the Pridas, that meant the couple closed on a ...