Small Business Resources, Business Advice and Forms from AllBusiness.com

Mortgage Rates Rise to Highest Level of Year.

The Boston Globe Knight Ridder/Tribune Business News

Jul. 25--The US average for fixed-rate, 30-year mortgages, which has been rising sharply in July, crossed the 6 percent barrier this week and stood at 6.05 percent yesterday, its highest level of the year, according to BanxQuote, a company that collects financial data.

With many consumers refinancing their mortgages and cashing out e...uity to remodel their homes, buy a new car, or pay for college tuition, the housing market has been the main driver of the economy in recent years. Rising mortgage rate

In addition, make sure to read these premium articles also available with your free trial:

T T T
art_print Printart_email Email 16x16-digg-guy  Digg It delicious-small  del.icio.us

Related Resources

Free AllBusiness Articles

  • The next wave in home mortgage lending
    • HEADNOTE The Phenomenal Five Strategies community banks can use to improve their bottom lines 2001 was a year of recession and unsettling change. Despite this, it was a busN year for the nation's mortgage lenders. Home sales and mortgage refinancing Volumes broke records. Amid an economic slowdown and layoffs, home ......
  • Housing market HOLDS up
    • A strong housing market has been one of the main stays of the drooping economy over the past year, as mortgage interest rates have fallen to 40-year lows and consumers have pursued more secure investments, such as bonds. "Sept. 11 was really a key date in the economy," said Larry ......
  • Low mortgage rates spark refinance boom
    • A combination of low interest rates and people's desire to lower house payments or consolidate debt is driving a robust increase in mortgage refinancing in central Indiana. "We're getting calls from people who refinanced three or four months ago," said Nick Vracas, manager of the retention division at Irwin Mortgage ......
  • An Opportunity for Banks
    • "Most subprime buyers have a positive experience with homeownership," asserts Eric Rosengren, president and chief executive officer of the Federal Reserve Bank of Boston. He told a regional Chamber of Commerce meeting in Portland, Maine, in October that Boston Fed researchers "looked at what happened to homeowners who used subprime ......
  • MBA'S forecast sees $2 trillion in 2002 originations. (Business Alert).
    • ACCORDING TO THE AUGUST 2002 FORECAST by the Mortgage Bankers Association of America (MBA), there is no reason to expect mortgage rates to rise in the near future. Mortgage rates are expected to average 6.3 percent for the third quarter and rise slightly to 6.4 percent in the fourth quarter ......
  • An opportunity for banks.
    • "Most subprime buyers have a positive experience with homeownership," asserts Eric Rosengren, president and chief executive officer of the Federal Reserve Bank of Boston. He told a regional Chamber of Commerce meeting in Portland, Maine, in October that Boston Fed researchers "looked at what happened to homeowners who used subprime ......
  • Economic growth, mortgage originations down in 2008.
    • Although economic growth will continue to slow through the first half of 2008, mortgage market watchers should expect economic activity to begin to pick up in the second half of 2008 and resume trend-like growth toward the end of 2009, according to a forecast by the Mortgage Bankers Association. MBA's ......

Video

Business Guides

Forms

Blogs

Podcast

Related Topics
Tools

Sponsored Links

Site Map | Contact Us | FAQs | About Us | Media Kit | Reprints | RSS Directory | Sign Up for Free Newsletters | Disclosure Policy

Copyright © 1999 - 2008 AllBusiness.com, Inc. All rights reserved.
No part of this content or the data or information included therein may be reproduced,
republished or redistributed without the prior written consent of AllBusiness.com.
Use of this site is governed by our Copyright and Intellectual Property Policy, Terms of Use Agreement and Privacy Policy.

Get In-Depth Company Information from Hoover's | Buy a D&B Credit Report | What is in Your Company's D&B Credit Report? | Article Archives
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
Information and opinions on AllBusiness.com solely represent the thoughts and opinions of the authors and are not endorsed by, or reflect the beliefs of,
AllBusiness.com, its parent company D&B, and its affiliates.