Interest Rate Information

 Interest Rates are on the Rise…

Interest rates on long-term  mortgage rates have increased this past week primarily out of worries of inflation. 30-year fixed loan rates have increased from 5.27% to 6.04%, reported by Freddie Mac.   Interest rates for 15 year loans have pushed up to 5.64%.   This is an increase from 5.25%.   Also, in a week to week survey, 1 year ARMs fell to 4.98% from 5.03%.

One other interesting fact from this past month.   New homes have seen their traffic pick up for the 2nd month now.   They are really bending over backwards to bring in the buyers in today’s market!

 

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