About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
Filed under Government Mortgage Financing Programs News

We get this interesting note from a recent article over at CNNmoney.com:

The average 30-year fixed rate mortgage inched up to 5.67% from 5.65% the week prior, and the 15-year fixed fell to 4.93% from 4.97%, according to the weekly national survey from Bankrate.com.

Mortgage rates have held within a narrow range for almost two months, despite some economic improvement, the report noted.

“With the Federal Reserve beginning to wean the markets from its repurchases of Treasury debt, there will be less to restrain mortgage rates if the economic data continue to improve,” the report said. Bond yields tend to influence mortgage rates. …

Current mortgage rates remain much lower than last year’s levels, when the average 30-year fixed was 6.74%, according to Bankrate.com.

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