Bad Credit Online Magazine - Daily News and Advice on Credit, Debt and Mortgage : Mortgage rates continue rising

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October 05, 2005

Mortgage rates continue rising

Mortgage rates are inching still higher. Both conforming and jumbo mortgage rates have gained slightly over .125% compare with where they were last week.

30 year conforming fixed mortgage rate is 5.52 percent vs. 5.39 percent.
30 year jumbo fixed mortgage rate is 5.76 percent vs. 5.69 percent.

The mortgage rates are at the highest since April and if the trend continuous and it likely will, we are poised to break this year high which was around 5.70% for conforming 30 year fixed mortgage in March.

The mortgage rates are still quite low. Look at the rates in April of 2002, when 30 year conforming fixed was above 6.50 percent.

These rates are the national ones, your state may have slightly lower or higher interest rates.

Posted in Mortgages at October 5, 2005 01:23 PM

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