Article by: Daily Real Estate News; March 16, 2012
30-Year Rates Stay Below 4%, Affordability High
Mortgage rates are staying low by historical standards, despite inching slightly higher this week following a positive job report and increasing bond yields, Freddie Mac reports in its weekly mortgage market survey.
“An upbeat employment report for February caused U.S. Treasury bond yields to increase over the week, and mortgage rates followed,”…Continue
Added by Kenneth Bargers on March 16, 2012 at 8:50pm — No Comments
After posting record lows the last few weeks, mortgage rates inched higher this week, Freddie Mac reports in its weekly mortgage market survey. Yet, rates still remain near 60-year lows.
“An employment report that was better than market expectations helped to lift long-term Treasury bond yields and mortgage rates as well,” Frank Nothaft, Freddie Mac’s chief economist, notes. In September, the economy added 103,000 workers; however, the unemployment rate still remained high at 9.1…Continue
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