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Inflation concerns drive 30-year mortgage rates up to 6.45 percent
- Article from:
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Capital (Annapolis)
- Article date:
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June 29, 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 rose again
last week, climbing to the highest level in more than nine months,
reflecting more concerns about how the Federal Reserve will respond
to higher inflation pressures.
Freddie Mac, the mortgage company, reported Thursday that 30-
year fixed-rate mortgages averaged 6.45 percent last week. That was
up from 6.42 percent the previous week.
It was the highest level for 30-year mortgages since they
averaged 6.46 percent for the week of Sept. 9. It marked the fifth
consecutive weekly increase and the fifth week that they have been
above 6 percent.
Frank Nothaft, chief economist at Freddie Mac, said financial
markets are uncertain about ...
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