Mortgage rates on 30-year fixed loans moved above 5% this week, according to a Freddie Mac report, up from 4.81% last week, reaching the highest level since April 2010. The home market is already up against a number of challenges — and now mortgage rates may be among them.
Research firm RealtyTrac recently reported that foreclosures remain stubbornly high. Standard & Poor’s has forecast home…
Continue reading Housing Takes Another Hit as 30-Year Mortgage Rates Climb Above 5%
Housing Takes Another Hit as 30-Year Mortgage Rates Climb Above 5% originally appeared on DailyFinance on Fri, 11 Feb 2011 06:30:00.
Filed Under: Economy, Real Estate