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Home Mortgage Rates Jump in Past Week
Average 30-year fixed mortgage rate jumped to 6.43 percent
RISMEDIA, April 10, 2006?The average 30-year fixed mortgage rate jumped to 6.43 percent from 6.35 percent during the week ended April 6, according to Freddie Mac.
Interest on 15-year fixed loans edged up to 6.10 percent from 6 percent over the same period. Meanwhile, the one-year adjustable mortgage rate rose to 5.57 percent from 5.51 percent; and the five-year hybrid ARM surged to 6.11 percent from 6.02 percent.
Freddie Mac chief economist Frank Nothaft attributes the gains to economic growth and rising energy prices, which have sparked concerns about inflation.
Source: The Wall Street Journal (04/07/06)
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