Thirty Year Fixed Rate Mortgages More Expensive

Freddie Mac, the government-favored mortage company, reports that the average interest rate for 30-year fixed rate mortgages has risen to 6.37%. This is highest rate since September 2003, when rate was 6.44%.

Rising rates usually reduce home buying and home prices. The signs are all there that the bubble is not going to grow any more. Now we just have to hope it does not burst.

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