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Article: Mortgage rates jump above 5 percent
- Article from:
- The Record (Bergen County, NJ)
- Article date:
- June 5, 2009
- Author:
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ALAN ZIBEL, THE ASSOCIATED PRESS
The Record (Bergen County, NJ)
06-05-2009
Mortgage rates jump above 5 percent -- Highest average in nearly six months
By ALAN ZIBEL, THE ASSOCIATED PRESS
Date: 06-05-2009, Friday
Section: BUSINESS
Edtion: All Editions
WASHINGTON Rates on 30-year home loans surged above 5 percent for the first time in nearly three months this week as investors pushed up rates on long-term government debt, which is closely tied to mortgage rates.
Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages rose to 5.29 percent this week, from an average of 4.91 percent a week earlier. It was the highest weekly average in nearly six months and ...