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28 Oct

Interest Rates Up Slightly Again

Posted October 28th, 2005 | View Comments

Freddie Mac’s Weekly Mortage Market Survey was released yesterday. Rates were up slightly again, originations were down, and lenders are beginning to fear especially for their refinance business.

The average for a 30-year fixed is now at 6.15%, with an average of half a point.

This is still not what you would call “high” interest, but as always, we caution buyers who may be waiting for prices on homes to fall that they certainly will — because they tend to go in the opposite direction from interest rates. I think we’re in for another several months of interest rate increases before we see prices really go down, but that’s just an opionion of mine. I also think interest will continue to climb after that, albeit with “local” fluctuations in the rate along the way.

  • skeptical

    What predictions do you have specifically in terms of short term and long term interest rates? Bond prices are down and Wall Street is realling do to core and noncore CPI.

  • John Lockwood

    I’m just of the opinion that rates will continue to go up, based on inflation fears. I don’t have any specific predictions about how fast or how high.

    After all, I’m just a Realtor® To get someone to lie to you on a “macro” level, you need an economist.

    These aren’t trick questions, are they? If you were a woman, would you ask me if this dress made you look fat?

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