Austin Texas 30 fixed Rates| Today’s Mortgage Rates

March 5, 2008

 Austin Texas Home 30 fixed Rates| Today’s Mortgage Rates

Associated Press - February 28, 2008 11:03 AM ET

McLEAN, Va. (AP) - The rate on the 30-year fixed rate mortgage rose has hit its highest level in a year.

Freddie Mac says the rate on the loan rose to 6.24% from 6.04% last week. Last year at this time, it averaged 6.18%.

The 15-year fixed rate mortgage, popular in refinancings, was up 8 basis points — to 5.72%. The rate on the 15-year loan averaged 5.92% a year ago. 

Freddie Mac Vice President and Chief Economist Frank Nothaft (NOH’-taft) says the increase in long-term rates was the third straight, and that he expects refinancings, which reached a 12-month high in January, “are likely to ebb following this recent rise in rates.”

 http://www.kxan.com/Global/story.asp?S=7939251

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