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Article: Mortgage Rates Inch Over 7 Percent in Omaha, Neb., Area.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- March 12, 1999
- Author:
CopyrightCOPYRIGHT 1999 Knight-Ridder/Tribune Business News. 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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Knight Ridder/Tribune Business News
Mar. 12 -- So far, a March blip in mortgage rates to more than 7 percent hasn't dampened home buyer interest, but a continued climb in rates could hamper this spring's housing market, real estate analysts said Thursday.
Averaging less than 7 percent for most of 1998 and through February this year, mortgage rates broke through the 7 percent ceiling this month for the first time since last June.
Last week, the average for a 30-year fixed-rate mortgage jumped to 7.06 percent from 6.89 percent the week before, said Freddie Mac, which purchases mortgages from local lenders.
This week, the rate continued ...