Sunday, June 22, 2008

Mortgage Rates Up in Past Week

If you're (thinking about) buying a house, do you know how many fees are associated with Closing Costs? Typically, it's more than 20.

Which costs are fixed, and which ones can be negotiated? And what's a HUD-1 Settlement Statement? To begin discovering answers to these vital questions, click here.

And know that you need to track numbers. The 30-year fixed-rate mortgage averaged 6.42% in the week ended Thursday, up from 6.32% last week. The mortgage averaged 6.69% a year ago; the last time it was this high was the week ended Sept. 27, when it also averaged 6.42%.

Application volume was down 21% compared to same week in 2007, the Mortgage Banker's Association said. To see more of the past week's mortgage numbers, click here.

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