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Rates On 30-Year Mortgages Hit 5-Month High
Posted: 12:45 pm MDT September 29, 2005Updated: 12:56 pm MDT September 29, 2005
Rates on 30-year mortgage rates rose to their highest level in five months this week.Mortgage giant Freddie Mac said its nationwide survey showed the average for 30-year, fixed-rate mortgages rose to 5.91 percent, up from 5.80 percent last week.It was the third straight increase and pushed the 30-year rate to its highest level since mid-April.A competing survey from bankrate.com showed the average 30-year, fixed-rate mortgage rose to 5.97 percent, up from last week's 5.88 percent.According to Bankrate.com, rates rose because investors are worried that Hurricanes Rita and Katrina could lead to inflation caused by high fuel prices.
Previous Stories:
- September 20, 2005: Fed Hikes Interest Rates Again -- Despite Katrina
- September 19, 2005: Will Fed Raise Rates Again? Analysts Mixed
- September 15, 2005: Mortgage Rates Inch Higher
- September 8, 2005: Rates On 30-Year Mortgages Hold Steady
- August 18, 2005: Mortgage Rates Ease Slightly
- August 11, 2005: Mortgage Rates Close In On 6 Percent
- July 28, 2005: Mortgage Rates Rise For Fourth Straight Week
Distributed by Internet Broadcasting Systems, Inc. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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