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Home Loan Interest Rates Rise Across The Board
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May 13, 2005 LOS ANGELES -- Home mortgage interest
rates stepped-up a notch this week in harmony with one another. The increases in
30-year, 20 year, 15 year and ARM (adjustable rate mortgage) programs were
slight, and furthermore it is widely agreed-upon by analysts as a surprisingly
small bump northward, all things considered.
For instance, at the end of March the 30 year interest rate average was at a the
six percent marker. Folks watching the market at the time speculated unanimously
it seemed that by mid-May rates would be climbing above the 6 1/2 percent marker
making current ARM mortgage holders sweat in their boots. Just goes to show
predicting the economy is about as easy as predicting the weather.
Scrutiny by the Bond market has brought no conclusiveness with
which players can hedge their game. Meaning, they are oblivious as to the
overall pace of our economy in the long term. For this reason, the bond yields
have remained remarkably low. This forces interest rates up.
Now that we have a little bit better yardstick on how exactly "measured" the
Fed's "measured pace rate increases" really are is isn't out of line or risky
for me to say that I predict rates will hit the 6.5% notch by the holidays. I've
been wrong before, but I'm giving you the go-ahead to write it on your calendar.
If I'm wrong I welcome the slaying's I'll get by email.
News article by Stockton Marquette,
Mortgage Industry Analyst
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