Sunday, October 19, 2008

Mortgage Rates Rise

I thought the bailout bill was supposed to make rates go down.

"30-year mortgage rates rise to highest in 8 weeks

Rates on 30-year mortgages jumped to the highest level in eight weeks. Mortgage giant Freddie Mac reported that 30-year, fixed-rate mortgages averaged 6.46 percent this week, up from 5.94 percent last week. It marked the third increase in the past four weeks and pushed rates to the highest level since Aug. 21. Rates on 15-year fixed-rate mortgages, which are popular with people who are refinancing, rose to 6.14 percent, compared to 5.63 percent last week. Rates on five-year adjustable-rate mortgages rose to 6.14 percent, up from 5.90 percent last week. Rates on one-year adjustable-rate mortgages edged up slightly to 5.16 percent, compared to 5.15 percent last week (AP)."

Hey, what is ONE MORE SHIT LIE to EAT, 'eh, Amurkns?