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Mortgage rates surge to highest level in 7 months

Mortgage rates surge to highest level in 7 months (News (General))

by administrator @, Wednesday, June 17, 2009, 19:54

WASHINGTON (AP) — Rates for 30-year home loans jumped to the highest level in seven months this week, leading to a slowdown in refinancing activity, Freddie Mac said Thursday.
The average rate for a 30-year fixed mortgage was 5.59% this week, up from 5.29% last week, Freddie Mac said. The last time the average 30-year fixed rate mortgage was higher was the week ended Nov. 26 of last year, when it averaged 5.97%.

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