Mortgage Rates Headed to 7%?


	Mortgage Rates Headed to 7%?

muckdog

10-16-2008 12:18 AM

172 views

tags:

mortgage rates, government

muckdog says:

More "government intervention gone wild."

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/ed21c2fe-0eea-4410-b591-65deaa0cbd3a/A85249E3-D99E-4F69-AD3D-001C7EB6D67C/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://money.cnn.com/2008/10/15/real_estate/end_of_low_mortgae_rates/index.htm" href="http://money.cnn.com/2008/10/15/real_estate/end_of_low_mortgae_rates/index.htm" style="font-size: 11px;">money.cnn.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/10/15/real_estate/end_of_low_mortgae_rates/index.htm">The rate on a 30-year fixed mortgage has spiked recently, and it may climb higher thanks to the government's massive rescue efforts.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/10/15/real_estate/end_of_low_mortgae_rates/index.htm"><P>NEW YORK (CNNMoney.com) -- Low mortgage rates have been the one bright spot in an otherwise devastated housing market, but now they're on the rise. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/10/15/real_estate/end_of_low_mortgae_rates/index.htm"><P>The average interest rate on a 30-year, fixed rate mortgage jumped to 6.6% late Tuesday from 6.06% the Tuesday before, according to Keith Gumbinger of HSH Associates, a publisher of mortgage information.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/10/15/real_estate/end_of_low_mortgae_rates/index.htm"><P>Gumbinger blames the rate increase on the massive federal bailout. To fund the rescue and the new government guarantees, Treasury must sell a raft of new Treasury bills to raise money.  </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/10/15/real_estate/end_of_low_mortgae_rates/index.htm"><P>"Who even has the cash to buy them all?" said Gumbinger. "The Treasury has to offer higher interest rates to sell." </P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/A85249E3-D99E-4F69-AD3D-001C7EB6D67C/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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