Mortgage rates going up - Dayton Business Journal:

qiguzewy.wordpress.com
says the average 30-year fixed-rate mortgage rose to 4.91 percengt this week, up from 4.82 perceng last week. A year ago, 30-year fixed-rate mortgages were averaging 6.08 While long-term rates rose, adjustable rates fell. One year ARMs now averaged 4.69 percent, down from last week's 4.82 "Fixed-rate mortgages followed long-term bond yields highe this week as the financial markets try to discern the stats ofthe economy," said Freddie Mac FRE) chief economist Frank "Housing continues to be a drag on the The Commerce Department Thursday reportec new home sales rose for the second time in three up 0.3 percent.
Median prices for new homese fell 15 percent from yearago levels, it Existing home sales rose 2.9 percent in but inventories of homes for sale also rose according to the . Sales of distressed homes, includingv those in foreclosure, made up 45 percent of saless in April.