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Online mystery-ak

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Mortgage rates have been rising at a pace not seen in almost 50 years
« on: May 25, 2018, 01:18:14 pm »
Mortgage rates have been rising at a pace not seen in almost 50 years

Kathy Orton, The Washington Post Published 11:12 am, Thursday, May 24, 2018

Mortgage rates continued their upward march this week, extending the most prolonged increase in rates in 46 years.

According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to 4.66 percent with an average 0.4 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.61 percent a week ago and 3.95 percent a year ago.

The 15-year fixed-rate average jumped to 4.15 percent with an average 0.4 point. It was 4.08 percent a week ago and 3.19 percent a year ago. The five-year adjustable rate average rose to 3.87 percent with an average 0.3 point. It was 3.82 percent a week ago and 3.07 percent a year ago.

"Mortgage rates so far in 2018 have had the most sustained increase to start the year in over 40 years," Sam Khater, Freddie Mac's chief economist, said in a statement. "Through May, rates have risen in 15 out of the first 21 weeks (71 percent), which is the highest share since Freddie Mac began tracking this data for a full year in 1972."

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https://www.lmtonline.com/business/article/Mortgage-rates-have-been-rising-at-a-pace-not-12940865.php
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Offline WingNot

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Re: Mortgage rates have been rising at a pace not seen in almost 50 years
« Reply #1 on: May 25, 2018, 04:09:29 pm »
Laughable.  We you get to the Jimmah Carter levels call me.  Till then STFU with your minuscule increases.
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Offline musiclady

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Re: Mortgage rates have been rising at a pace not seen in almost 50 years
« Reply #2 on: May 25, 2018, 04:15:41 pm »
Quote from: Wingnut on May 25, 2018, 04:09:29 pm
Laughable.  We you get to the Jimmah Carter levels call me.  Till then STFU with your minuscule increases.

Yeah......... we tried to sell our little starter home during the Carter mortgage disaster (18%???), and it took years and years.

Wealthy people were buying homes because the interest rate didn't bother them much, but the poorlings who would have bought ours couldn't swing it.
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Offline GrouchoTex

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Re: Mortgage rates have been rising at a pace not seen in almost 50 years
« Reply #3 on: May 25, 2018, 04:29:27 pm »
I can relate.
I didn't buy a house until later, when I could afford the interest rates.
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