Average Mortgage Interest Rates Rise
Average U.S. rates for 30-year, fixed-rate mortgage loans rose to 5.72 percent, an increase from 5.67 percent the previous week, MarketWatch reported February 14, 2008.
A year ago, the same loan had a rate of 6.30 percent.
"At a forecast delivered ... to the National Association of Home Builders, [Frank] Nothaft [Freddie Mac chief economist] said he expected the 30-year mortgage to average 5.5% for all of 2008, predicting that the Fed will again lower interest rates and bring mortgages down as well."
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