Thursday, April 24, 2008

Bankrate: Mortgage Rates Rise for Second Straight Week

NEW YORK, April 24 /PRNewswire-FirstCall/ -- Fixed mortgage rates moved
slightly higher for the 2nd hebdomad in a row, with the norm conforming
30-year fixed mortgage charge per unit rising to 6.11 percent. According to's weekly national study of big lenders, the norm 30-year
fixed mortgage have an norm of 0.43 price reduction and inception points. (Logo: ) The norm 15-year fixed charge per unit mortgage popular for refinancing
increased to 5.70 percent, while the norm elephantine 30-year fixed rate
inched higher to 7.34 percent. Adjustable mortgage rates were no exception,
with the norm 1-year arm rising to 6.55 percentage while the norm 5/1
ARM moved up to 5.92 percent. Mortgage rates were higher over the last hebdomad owed to persistent
concerns about inflation, as oil terms approached $120 per barrel, and
hopes that the lodging marketplace is bottoming. Chemical Bond yields, to which mortgage
rates are closely related, moved up in response. With another involvement rate
cut expected from the Federal Soldier Modesty at their meeting next hebdomad and a full
economic calendar into early May, mortgage rates could be volatile. Further
signs of economical failing would likely force mortgage rates down, but
inflation could impel rates higher. Mortgage rates have got been on a wild drive since the beginning of the
year. The norm 30-year fixed mortgage charge per unit was as low as 5.57 percentage in
January, meaning that a $200,000 loan would have got carried a monthly payment
of $1,144.38. In February, the norm 30-year fixed charge per unit got as high as
6.41 percent, which meant the same $200,000 loan would have got carried a
monthly payment of $1,252.32. Today, with the norm charge per unit at 6.11 percent,
a $200,000 loan would intend a monthly payment of $1,213.28. survey RESULTS 30-year fixed: 6.11% -- up from 6.03% last hebdomad (avg. points: 0.43) 15-year fixed: 5.70% -- up from 5.65% last hebdomad (avg. points: 0.41) 5/1 ARM: 5.92% -- up from 5.85% last hebdomad (avg. points: 0.51)
Bankrate's national weekly mortgage study is conducted each Wednesday
from information provided by the top 10 Banks and thrifts in the top 10 markets. For a full analysis of this week's move in mortgage rates, travel to The study is complemented by Bankrate's weekly forward-looking Rate
Trend Index, in which a panel of mortgage experts foretells which manner the
rates are headed over the adjacent 30 to 45 days. Nearly half of the panelists,
46 percent, anticipate rates to lift further, while 36 percentage prognosis a
decline in rates. The remaining 18 percentage feel that rates will stay more
or less unchanged in the approaching 30 to 45 days. For the full mortgage Rate Tendency Index, travel to About Bankrate, Inc. (Nasdaq: ) The Bankrate web of companies includes,,, Nationwide Card Services,, Fee
Disclosure and InsureMe. Each of these concerns assists consumers to make
informed determinations about their personal finance matters. The company's
flagship brand, is a finish land site of personal finance
channels, including banking, investing, taxes, debt direction and college
finance. is the prima collector of rates and other
information on more than than 300 fiscal products, including mortgages,
credit cards, new and used car loans, money marketplace business relationships and CDs,
checking and standard atmosphere fees, place equity loans and online banking fees. reappraisals more than 4,800 fiscal establishments in 575 markets
in 50 states. In 2007, had nearly 60 million alone visitors. supplies fiscal applications and information to a network
of more than than 75 partners, including Yahoo! (Nasdaq: ), United States Online
(NYSE: ), The Wall Street Diary and The New House Of York Times (NYSE: ).'s information is also distributed through more than than 500
newspapers. For more than information contact:
Kayleen Keneally
Senior Director, Corporate Communications 917-368-8677
note TO EDITORS: The information contained in this release is available
for black and white or broadcast with ascription to

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