30-Year Mortgage Rates Hit 15-Month High
Rates Climb For 6th Consecutive Week
POSTED: Thursday, October 20, 2005
UPDATED: 2:13 pm EDT October 20,
2005
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WASHINGTON -- Rates on 30-year mortgages rose this week to the highest level in 15 months. In addition, Freddie Mac said one-year adjustable rate mortgages were at the highest level in four and a half years. The mortgage giant said the national average for 30-year, fixed-rate mortgages stands at 6.10 percent.That was the highest level since 30-year mortgages were at 6.21 percent in July 2004.It was up from 6.03 percent last week.A competing survey from Bankrate.com showed that the average 30-year, fixed-rate mortgage increased from 6.1 percent to 6.17 percent. Freddie Mac said rates on 15-year, fixed-rate mortgages, a popular choice for refinancings, averaged 5.65 percent this week. That was up from 5.62 percent last week. One-year adjustable rate mortgages rose to 4.89 percent. That was up from 4.85 percent last week. The one-year ARM was at its highest level since April 2002. Analysts said the rising mortgage rates reflect growing nervousness in financial markets about inflation pressures triggered by the sharp rise in energy prices after the Gulf Coast hurricanes shut down production.
Previous Stories:
- October 19, 2005: Housing Market Shows No Signs Of Slowdown
- October 13, 2005: Panel Urges Limits On Mortgage Tax Breaks
- October 13, 2005: 30-Year Mortgage Rates Top 6 Percent
- October 6, 2005: Mortgage Rates Rise On Inflation Jitters
- October 5, 2005: Interest-Only Mortgages Popular But Risky
- September 29, 2005: Rates On 30-Year Mortgages Hit 5-Month High
- September 22, 2005: Survey: $1.7M Difference For Same Size Home
- September 15, 2005: Mortgage Rates Inch Higher
- September 8, 2005: Rates On 30-Year Mortgages Hold Steady
- August 18, 2005: Mortgage Rates Ease Slightly
- August 11, 2005: Mortgage Rates Close In On 6 Percent
- July 28, 2005: Mortgage Rates Rise For Fourth Straight Week
- June 23, 2005: Mortgage Rates Keep Sliding
- June 2, 2005: Mortgage Rates Drop Again
Distributed by Internet Broadcasting Systems, Inc. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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