Mortgage rates soar as economy rebounds
 

Mortgage rates soar as economy rebounds
By Holden Lewis . Bankrate.com

Another week, another stronger-than-expected economic report leading to
another rise in mortgage rates.

The benchmark 30-year fixed-rate mortgage rose 17 basis points to 5.97
percent, according to the Bankrate.com national survey of large lenders. A
basis point is one-hundredth of 1 percentage point. The mortgages in this
week's survey had an average total of 0.37 discount and origination points.
One year ago, the mortgage index was 5.90 percent.

The 15-year fixed-rate mortgage rose 17 basis points to 5.31 percent. The
one-year adjustable-rate mortgage rose 13 basis points to 3.79 percent.

Mortgage rates have risen for the fourth week in a row. A month ago, the
30-year fixed rate was 5.41 percent. Rates have risen rapidly because of
three surprisingly strong economic reports for March: employment, retail
sales and consumer prices.

Rui Teixeira, LMB Mortgage Advisor Stockton Turner & Company 8900 SW 117th
Ave. Suite C-108 Miami, FL 33186 IM: RJTEIXEIRA (AOL)
www.stcloans.com tel: fax: mobile: 305-598-1600 305-598-5020 954-294-6985
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