Mortgage Rates Swing Upward Again This Week

October 30, 2008 – 8:30 am

Mortgage interest rates have been seesawing like the stock market over the last few weeks and this week they again took some mega-jumps.

Frank Nothaft, Freddie Mac vice president and chief economist said in a press release, "Long-term mortgage rates followed long-term Treasury bond yields higher this week, pushing fixed-rate mortgages up to levels of two weeks ago.  "The Federal Reserve's 0.50 percentage point cut...

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