Mortgage Rates Spike [VIDEO]
Mortgage rates have spiked up again this week.
FOX News Radio’s Dave Anthony reports on what’s behind the jump:
It’s getting more expensive to buy a house. Mortgage rates have hit a more than two-year high. The 30-year fixed loan jumped up from 4.4 to 4.58% in just the last week. And, Freddie Mac says the 15-year mortgage rose to three-sixty, driven higher by speculation the Fed will slow its bond purchasing aimed at keeping rates low, stimulating the economy. Last November, rates hit an all-time low: 3.31% for the 30-year. The difference between now and then, will cost a homebuyer nearly $150 bucks a month more, on a $200,000 loan.
Dave Anthony, FOX News Radio.
Watch a VIDEO below for more on Fed fears hitting the bond markets: