Mortgage Rates Increase - Rates Might Go Up Further

Mortgage rates increased this week after holding steady for the last 3 weeks. Rates seemed to move up across all of the major mortgage products. Below are the rates on the different mortgage products over the last few weeks.

April 24th, 2008
30-yr 6.03 15-yr 5.62% 5-yr ARM 5.68 1-yr ARM 5.29

April 17th, 2008
30-yr 5.88 15-yr 5.40% 5-yr ARM 5.48 1-yr ARM 5.10

April 10th, 2008
30-yr 5.88 15-yr 5.42% 5-yr ARM 5.56 1-yr ARM 5.19

April 3rd, 2008
30-yr 5.88 15-yr 5.42% 5-yr ARM 5.59 1-yr ARM 5.18

The FED is meeting on May 9, 2008 and the general belief is that the FED will not cut rates due to fears of inflation. Therefore we might not see rates come down much from where they are currently are. Which basically means that now is a good time to lock in rates on any potential real estate purchases you are thinking about.

• Rate this Post!

  Select Your Rating:

  • 5 Stars (Excellent!)
  • 4 Stars
  • 3 Stars
  • 2 Stars
  • 1 Stars (Poor)

• Share this Post

  Share With A Friend:

  Your Name Your Email

  Friend's Name Friend's Email

  Optional Message

  Send

• Print
• Social Bookmarking

  Add to Bookmarks: