Mortgage Rates Up For First Time In Seven Weeks Mortgage Rates Up For First Time In Seven Weeks

Mortgage rates reversed a six week downward trend, increasing slightly during the week ended September 7 according to the Weekly Primary Mortgage Market Survey released by Freddie Mac.

Frank Nothaft, Freddie Mac vice president and chief economist said "We expect that mortgage rates will continue to fluctuate as new economic data are released, but hold steady in the meantime".

Small increases in marginal rates aren't having the effects that they would normally on home sales because affordability concerns seem to still trump them. Buyers are keenly aware that today's distressed seller is going to be even more distressed tomorrow, thus pushing prices and demand even further.

Labels: FreddieMac, interestrates, mortgagerate., mortgagerates

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