Mortgage Rates on the Rise

http://www.mortgagebankers.org/NewsandMedia/PressCenter/54719.htm

The average contract interest rate for 30-year fixed-rate mortgages increased to 6.35 percent from 6.32 percent, with points increasing to 1.5 from 1.41 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.

The average contract interest rate for 15-year fixed-rate mortgages increased to 6.13 from 6.05 percent, with points decreasing to 1.2 from 1.27 (including the origination fee) for 80 percent LTV loans.

The average contract interest rate for one-year ARMs remained unchanged at 5.74 percent, with points increasing to 1.14 from 1.09 (including the origination fee) for 80 percent LTV loans.

A house at the same price is getting less affordable now if you want a fixed rate. Two months ago, the release read:

The average contract interest rate for 30-year fixed-rate mortgages increased to 6.13 percent from 6.04 percent, with points decreasing to 1.25 from 1.33 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.

The average contract interest rate for 15-year fixed-rate mortgages increased to 5.85 from 5.77 percent, with points decreasing to 1.09 from 1.14 (including the origination fee) for 80 percent LTV loans.

The average contract interest rate for one-year ARMs increased to 5.87 from 5.84 percent, with points remaining unchanged at 0.72 (including the origination fee) for 80 percent LTV loans.

Interesting how points have gone up so much recently.

Edited 1 time(s). Last edit at 06/06/2007 11:11AM by RodgerRafter.

and finally the reits and the builder starting to react..... until the next reit buyout...... :-)

 

Its really great to see this post.valuable information was delivered in this in which average interest rates related to arm's and increment and decrements in points related to mortgages  was mentioned .thanks for delivering this.

Nice graph. Illustrates a lot.