The mortgage rates have increased over the past week
according to Freddie Mac. The increase
is due to the rise in Treasury yields which represents investors’
optimism. The average rate for a 30 yr
mortgage is 4.20 which ended June 12, 2014 and 4.14 from previous week.
Even though mortgage rate has increased, rates are still low and the application for
mortgages increased during May. Refinancing has also increased. This is a good sign since the confidence of people is still good for the real estate
market.
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