Wednesday, January 24, 2007

Interest Rates Edging Up

For the week ending January 18th, long term interest rates have edged up again, this according to Freddie Mac. Though the increase is only slight, it does represent the highest rate since November.
Still, when you look at the numbers, the rise is a minimal one. 6.23% for a 30 year fixed loan versus 6.21% for the previous week. This does represent a 13 basis point rise over last year at this time.
For a definition of basis point, click here.