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Article: 30-year mortgage rates top 6 percent
- Article from:
- Capital (Annapolis)
- Article date:
- April 27, 2008
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Copyright informationCopyright 2008 Capital (Annapolis). Provided by ProQuest LLC. (Hide copyright information)
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WASHINGTON, D.C. (AP) - Rates on 30-year mortgages topped 6
percent for the first time in six weeks as financial markets grew
more worried about rising inflation pressures.
Freddie Mac, the mortgage company, reported Thursday that 30-
year fixed-rate mortgages averaged 6.03 percent last week after
three consecutive weeks at 5.88 percent. Rates on 30-year mortgages
were last above 6 percent the week of March 16 when they averaged
6.13 percent.
"Average rates on mortgages increased across the board this last
week as the most recent economic data raised inflationary concerns
in the capital markets," said Frank Nothaft, Freddie Mac's chief
economist.
Fueling those concerns was a ...
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