Coming down from a seven-month high of 5.59 percent a week ago, rates on 30-year fixed home loans settled at 5.38 percent last week. Freddie Mac reports that interest on 15-year fixed mortgages was lower as well, slipping to 4.89 percent from 5.06 percent over the same period. An upward trend in borrowing costs over the past three weeks was linked to rising yields on long-term government debt, sparked by investor concerns over inflation. According to Freddie Mac, however, new data suggest that inflation is under control.
[SOURCES: Freddie Mac; Information, Inc.]
Thursday, July 2, 2009
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