From Deseret News archives:

Mortgage rates go up for 1st time in 2 months

Published: Friday, Dec. 14, 2007 12:24 a.m. MST
 |  E-MAIL | PRINT | FONT + - 
WASHINGTON — Mortgage rates, which had been sliding, went up this week, disappointing news to would-be home buyers.

Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.11 percent. That was up from last week's rate of 5.96 percent, which was the lowest in more than two years. Until this week, rates on 30-year mortgages had been falling or holding steady each week since the middle of October.

The pickup in mortgage rates around the country comes as some prospective home buyers struggle with a credit crunch that has made it more difficult to secure financing for homes and other big-ticket purchases. The worsening credit crunch has aggravated the housing slump, which is weighing heavily on national economic activity.

Recent comments

OF COURSE IT MAKES SENSE. THE LENDING INDUSTRY USUALLY LOWERS RATES...

HERES WHAT. | Dec. 14, 2007 at 7:36 a.m.

This doesn't make sense, considering they just dropped the prime rate...

What? | Dec. 14, 2007 at 12:49 a.m.

Related content
previousnext

Latest comments

Most Utahns unhappy with Obama

But the nooooo the GOP passes over Sec. Condi Rice, Sec. Colin...

yes a saw a similar recipe on youtube on Utah Homes & Garden Television......

Why is Y. ignoring spew of hatred?

I wish we were hearing about how good the last drive of the game was and the...

Hatch: Abortion amendment may fail

I would like abortion to be the right of the individual not the government....

If a person needs an abortion, I feel it is betterr than an unwanted birth....

The senate bill already prohibits taxpayer money from being spent on...

Are you REALLY so desperate for attention that you'll troll the DN website...

Thank goodness it'll only be for one term.

3,396 comments now. And to the 10:17 comment above, I'm not "whining about...

you already own utah. why do you need another state?

Advertisements