It would appear we can kiss 4% mortgage rates goodbye! The average rate on 30-year fixed mortgages rose last week to 4.86% (the highest level in seven months) reflecting higher yields on long-term Treasurys. Freddie Mac said last Thursday the rate increased to 4.86 percent from 4.81 percent in the previous week... It hit a 40-year low of 4.17 percent in November. The average rate on the 15-year loan rose to 4.20% from 4.15% – the highest reading in six months. It had fallen to 3.57% in November, the lowest level on records starting in 1991!
Rates overall have been rising since November as investors shift money out of Treasurys and into stocks. Many expect the tax-cut plan will fuel economic growth and increase inflation. Yields tend to rise on fears of inflation. Mortgage rates track the yields on the 10-year Treasury note.
You can get the current mortgage information right on our website and even compare rates: http://www.floridagulfproperty.com/mortgageinfo.html
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment