CNN Your Money June 30, 2013 19:12:00
Rates in one week since april of 1987. last week, rates soared. rates on fixed loans rose to 4. 4.46%. 15 year fixed rate jumped to 3.5%. mortgage rates have been on the rise since late april. the average rate was 3.56 since early may, the highest since july 2011. let's do the math. a $200,000 home loan costs 1,008 a month in may. a monthly payment now is 1,008 from $881. why is this happening? the fed may start tapering back its compare stimulus. that stimulus has kept mortgage rates low. it can't last forever. that means you will pay more to borrow. don't get me wrong, rates still historical...
Source: archive.org