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Mortgage Rates Surge While Applications and Refinancing Weak
By admin | May 30, 2007
Maybe it is just temporary, but it looks like the worm - that is the mortgage interest rate version of it - has finally turned.
Freddie Mac's Primary Mortgage Market Survey for the previous week had some pretty heart-stopping data for those who may have hoped for continued low rates. However, this is similar to a pattern begun just about a year ago when rates moved into the high 6.80 percent range over a three month spring and summer period only to reverse and achieve a long term run in the 6.06-6.20 percent range. Who knows where it will go this time...
Topics: Mortgage News |