Tags: US | Mortgage | Rates

Rates on 30-Year Mortgages Rise to 5.21 Percent

Thursday, 08 Apr 2010 10:33 AM

Rates for 30-year home loans surged last week, rising to the highest level in eight months due to the improving economy and the end of a government push to make mortgages cheaper.

The mortgage finance company Freddie Mac says the average rate on a 30-year fixed rate mortgage was 5.21 percent this week, up from 5.08 percent a week earlier. That's the highest since the week ending August 13, 2009, when the average rate was 5.29 percent.

Rates had dropped to a record low of 4.71 percent in December, pushed down by a $1.25 trillion campaign by the Federal Reserve to reduce consumers' borrowing costs. That ended last week.

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Rates for 30-year home loans surged last week, rising to the highest level in eight months due to the improving economy and the end of a government push to make mortgages cheaper.The mortgage finance company Freddie Mac says the average rate on a 30-year fixed rate mortgage...
US,Mortgage,Rates
109
2010-33-08
Thursday, 08 Apr 2010 10:33 AM
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