Increase In 30 Year Mortgage Interest Rates

Increase In 30 Year Mortgage Interest Rates

The recent article that was posted on Washington Post, mentioned that the average 30 year mortgage rate jumped to 4.35%

With average US rates on fixed mortgages rising for the second straight week, there appear to be signs of economic recovery. This is important for a number of reasons.

1. This is symbolic – Rising interest rates means that more and more people are borrowing, this means the economy is improving. More people borrowing, means less available money, and as a result banks can charge more interest.

2. Get a mortgage soon – If you’re looking to lock in savings with the rock-bottom mortgage rates made available due to the recent economic decline, then now is the right time. Over time, the economy will improve, and this means mortgage rates can only go higher.

Average 30-year mortgage rate jumps to 4.35% – USA TODAY Fri, 15 Nov 2013 20:08:30 GMT

Washington Post (blog)Average 30-year mortgage rate jumps to 4.35%USA TODAYWASHINGTON (AP) Average U.S. rates on fixed mortgages rose for the second straight week amid some signs of economic strength. Still rates remain near historically low levels. Mortgage buyer Freddie Mac said Thursday that the average rate on theᅠ…Mortgage rates continue to climb; 30-year at 4.35%Chicago TribuneMortgage rates climb for second consecutive weekWashington Post (blog)Don’t take out a fixed-rate mortgageMark …

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