6.37 is going to look reallllly good a year from now... Anyone else see 8% in our near future? No more refi's. No more housing ATM. No more homes selling. What's a mortgage banker to do (besides pray?)
Rates on 30-year mortgages jumped to the highest level in 3 1/2 years this week, driven higher by inflation worries in financial markets.
Mortgage giant Freddie Mac reported Thursday that rates on 30-year, fixed-rate mortgages averaged 6.37 percent this week, according to its weekly survey.
That was up sharply from a nationwide average of 6.24 percent and left 30-year rates at the highest level since they averaged 6.43 percent the week of Aug. 2, 2002.
March 09, 2006
Big shocker: 30-Year Mortgage Rates Jump to 3-Year High
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11 comments:
I love that picture. Where do you come up with these?
We should have a contest for the best caption.
Great picture!!!
Dear God, please let my clients' loan go through. I'm mortgaged to the hilt, on my 14th refi myself, and these suckers (I mean clients) really need their no-doc, no-down, interest-only, negative-am to go through, dear god, so I can make my commission. Even though they both lost their jobs as real estate appraisers last week.
Just one last time, Dear God, will I ask this favor of you. Well, actually, my 12 o'clock might need some Divine intervention as well. I'll talk to you then
Amen.
Rates should already be 8% if the FED and China/Japan were manipulating the markets. 6% seems like a low rate (historically).
"Only a Pregnant Pause. Not a Bubble. Only a Pregnant Pause. Not a Bubble. Dear Jesus, Please don't let it be a Bubble!!!"
Jezuz Rulez!!
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