Mortgage Rates Near 4-Year High
POSTED: 2:20 pm EDT June 1,
2006
UPDATED: 2:29 pm EDT June 1,
2006
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WASHINGTON -- Mortgage rates are nearing their highest levels in almost four years. Freddie Mac said Thursday that rates on 30-year, fixed-rate mortgages averaged 6.67 percent this week, compared with 6.62 percent last week.A competing survey from Bankrate.com had 30-year, fixed-rate mortgages rising from 6.69 percent to 6.72 percent. Freddie Mac said the average for 15-year, fixed-rate mortgages, a popular choice for refinancing, was higher as well, going to 6.26 percent, from 6.23 last week. In addition, rates on one-year adjustable rate mortgages hit 5.68 percent -- the highest level since mid-August of 2001. The increases come as financial markets worry that brewing inflation may prompt the Federal Reserve Board to keep raising interest rates rather than pausing as had been hoped. The central bank has already pushed rates higher 16 times in a row.
Previous Stories:
- May 31, 2006: Fed Minutes Show Another Rate Hike Possible
- May 19, 2006: Long-Term Mortgage Rates Up Again
- May 10, 2006: Fed Lifts Rates 16th Straight Time
- May 4, 2006: Mortgage Rates Up For 6th Week
- March 28, 2006: Fed Lifts Rates 15th Straight Time
- March 27, 2006: Fed Set To Hike Interest Rates For 15th Straight Time
- March 23, 2006: Mortgage Rates Slide For Second Straight Week
- March 17, 2006: Economists Predict Two More Interest Rate Hikes
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