Economy - Thursday (Investor's Business Daily)

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Economy - Thursday
    (Investor's Business Daily)

 

Investor's Business Daily - The benchmark 30-year fixed-rate mortgage rose 10 basis points this week to 6.42% on growing inflation concerns, mortgage backer Freddie Mac said. That's the highest rate since Sept. 6. The 15-year fixed-rate home loan averaged 6.02%, up 9 basis points. The 1-year Treasury-indexed adjustable rate rose 10 basis points to 5.19%. Rising rates have been cooling mortgage applications, another problem for the weak housing market.


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