Fear of Inflation Causes Rates to Move Higher

When thinking about Charlottesville Real Estate I am always looking at the markets. Freddie Mac released the results of its Primary Mortgage Market SurveySM in which the 30-year fixed-rate mortgage (FRM) averaged 6.67 percent, with an average 0.4 point, for the week ending June 1, 2006, up from last week’s average of 6.62 percent. Last year at this time, the 30-year FRM averaged 5.62 percent. The 30-year FRM has not been higher since the week ending June 13, 2002, when it averaged 6.71 percent.

The average for the 15-year FRM this week is 6.26 percent, with an average 0.4 point, up from last week’s average of 6.23 percent. A year ago, the 15-year FRM averaged 5.20 percent. The 15-year FRM has not been higher since the week ending May 24, 2002, when it averaged 6.28 percent.

regards

Charles McDonald

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