Sunday, December 19, 2010
Will Rising Interest Rates Finally Push Buyers Back Into The Housing Market?
While Congress debated the tax-cut compromise, the financial markets have interpreted the proposal as a development that will likely push mortgage interest rates higher than they have been for months.
The average rate for a 30-year fixed loan increased to 4.61 percent in the week ended Thursday, Dec. 9, from 4.46 percent the previous week. The average 15-year rate rose to 3.96 percent from 3.81 percent. Rates vary from lender to lender and are also predicated on other issues, so yours may be different from the above.