Mortgage Rates Jump in Latest Week
Long-term mortgage interest rates skipped higher this week amid foreign bond market fluctuations and mixed economic reports at home, according to mortgage backer Freddie Mac. The average rate on a 30-year fixed rate mortgage (FRM) jumped to 3.80 percent, excluding fees, during the week ended May 7, 2015, up from 3.68 percent the previous week. Compared with last year, the rate is still down from 4.21 percent. The 15-year FRM rate also spiked, increasing to 3.02 percent, up from 2.94 percent Read more [...]
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