|
Mortgage rates up slightly
|
 |
September 9, 1999: 12:45 p.m. ET
No major changes in rates after roller coaster week, says Freddie Mac
|
NEW YORK (CNNfn) - Mortgage rates rose slightly this week after see-sawing for several days, mortgage firm Freddie Mac reported Thursday.
For the week ending Sept. 10, the average rate on U.S. 30-year fixed-rate mortgages was 7.88 percent, up from last week's 7.83 percent. One year ago, the rate was 6.77 percent.
Fifteen-year loan rates climbed to 7.49 percent from 7.45 percent the week before. The rate for these mortgages averaged 6.43 percent for the same period last year.
One-year adjustable-rate mortgages were 6.21 percent, up from last week's 6.18 percent. A year ago, the rate was 5.50 percent.
(Click here to see a breakdown of average mortgage rates by U.S. region.)
"Mortgage rates were on a roller coaster this week and Freddie Mac's survey caught the upward swing of that ride," said Robert Van Order, Freddie Mac's chief economist. "Overall, however, rates are almost unchanged from last week and we don't see any dramatic fluctuations either way in the near future."
The economist also predicted that 1999 would be a record-breaking year for the housing industry, despite recent signs of a sales slowdown. 
|
|
|
|
|
 |
|
.
