July 8, 2005 WASHINGTON -- According to industry analytic giant Freddie Mac,
average interest rates for residential lending on a broad-based national level
rose from the previous week's near-record low. Rates this week remain at
remarkably low levels, so needless to say locking an APR rate for a home loan
now will land most homeowners at an appealing level they may never have
opportunity to grasp again.
As rates continue to hover at rock-bottom levels, the buoyancy of the U.S.
housing market remains at top-level.
The Freddie Mac weekly survey said Thursday that rates on 30-year, fixed-rate home
loans jumped from the prior-week 5.53 percent to 5.62 percent, on average. Last week's 30-year
marked its lowest point since April 2004. 15-year fixed-rates averaged 5.20
percent, up slightly from the previous week, at which time the survey results
indicated a 5.12 percent national average. -
Article by
Stockton Marquette for CMR Home Loan original news.
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