Mortgage rates soar to 4.46%# Living
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http://money.cnn.com/2013/06/27/real_estate/mortgage-interest/i
Rising interest rates have hit mortgages big time.
Rates on 30-year, fixed-rate home loans spiked 0.53 percentage points to an
average of 4.46% this week -- the largest weekly increase in more than 26
years, mortgage giant Freddie Mac said Thursday.
The 30-year loan, which stood at 3.35% as recently as early May, is at its
highest level since July 2011.
Rates for 15-year loans, popular with homeowners refinancing their mortgages
, jumped 0.46 percentage points to 3.5%.
An extra percentage point will cost homebuyers with 30-year, fixed-rate
mortgages $56 more a month for every $100,000 they borrow.
Rising interest rates have hit mortgages big time.
Rates on 30-year, fixed-rate home loans spiked 0.53 percentage points to an
average of 4.46% this week -- the largest weekly increase in more than 26
years, mortgage giant Freddie Mac said Thursday.
The 30-year loan, which stood at 3.35% as recently as early May, is at its
highest level since July 2011.
Rates for 15-year loans, popular with homeowners refinancing their mortgages
, jumped 0.46 percentage points to 3.5%.
An extra percentage point will cost homebuyers with 30-year, fixed-rate
mortgages $56 more a month for every $100,000 they borrow.