Friday PM: Rates Moving Up Edition

by Alex Stenback on March 4, 2005

As many expected, mortgage rates moved up a few ticks this week, with Freddie’s weekly average edging up from 5.69% to 5.79%.  Dissapointing? Yes, but before you run off to cancel this weekend’s showings, consider this: The difference between those two figures represent about $13.00 per month on a $200,000 mortgage.  We are still (thankfully) a long way from rate levels that will significantly erode borrowing power.

Expert commentary, pertinent links, and recommended reading from around the web, all after the jump. [click below]

A quick sampling of what some of the experts had to say:

"Concern that long-term interest rates are too low and comments from Fed
officials this week helped push mortgage rates higher this week," said Frank
Nothaft, Freddie Mac vice president and chief economist.

·Mortgage Rates Move Higher [CNNfn.com]

"…stronger-than-expected manufacturing
activity in the Midwest,…and an acceleration of inflation in
January." Said Holden Lewis, Senior Reporter at Bankrate.com

·Mortgage Matters, Tuesday March 1st [bankrate.com via NYT]

"Say goodbye to 5 percent plus 30-year home loan money, we will soon forget that
as fast as we are forgetting the name John Kerry [or is it Kerrey?]."

·Bye Bye Baby… [Inman Blog]

Recommended Weekend Reading
·What Moves Rates? [Financial Publishers HSH.com]
·The ‘experts’ are often wrong [Behind The Mortgage]
·African Weather and Mortgage Rates [Behind The Mortgage]

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