Excerpt from: Flagstaff Mortgages
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| April 04, 2010 | | Mortgage rates were higher last week on good economic news and the end of Fed support via mortgage-backed securities purchases | It was no April Fool’s joke – home loan rates were up last week according to local Flagstaff lenders and Freddie Mac’s weekly national mortgage rate survey released on Thursday. Mortgage bond prices increased as the private market had to begin to absorb the absence of purchases made by the Federal Reserve over the last year. Good news for the stock market and a rise in employment also began to push interest rates higher in general as investors in bonds had to be paid more to be persuaded to stay out of the improving equities markets.
At the other end of the mortgage picture, there was also good news as the mortgage insurers reported that the number of homeowners who recovered from default outnumbered those who became newly delinquent on their mortgages in February – the first month this has happened since March 2006!
Here are the numbers from Freddie Mac’s weekly survey of mortgage interest rates:
 
For the complete set of charts, visit the Freddie Mac press release in full.
To buy or sell any Flagstaff home, please contact me: Ann Heitland at RE/MAX Peak Properties.
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