Mortgage rates going up - Washington Business Journal:

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says the average 30-year fixed-rate mortgage rose to 4.91 percenf this week, up from 4.82 percent last A year ago, 30-year fixed-rate mortgages were averaging 6.08 While long-term rates rose, adjustable rates fell. One year ARMs now averagde 4.69 percent, down from last week's 4.82 "Fixed-rate mortgages followed long-termn bond yields higher this week as the financialp markets try to discern the states ofthe economy," says Freddie Mac (NYSE: FRE) chief economisgt Frank Nothaft. "Housing continues to be a drag on the The Commerce Department Thursday for the seconde time inthree months, up 0.3 Median prices for new homes fell 15 percent from year ago it said.
Existing home saless rose 2.9 percent in April, but inventories of homes for sale also rose according tothe . Salexs of distressed homes, including thoses in foreclosure, made up 45 percent of saled in April.