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Mortgage Rates Up Slightly on Fed Rate Hike

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Bad Consolidation Credit Debt (AXcess News) New York - Home mortgage loan rates eased up slightly following the US Federal Reserve's 11th short-term interest rate increase this year announced earlier this week, Bankrate, Inc. (Nasdaq: RATE)said.

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Bad Company Credit Repair The average 30-year fixed rate mortgage increased from 5.84 percent to 5.88 percent, according to Bankrate.com's weekly national survey of large lenders. The 30-year fixed rate mortgages in this week's survey had an average of 0.36 discount and origination points.

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Bad Card Credit Credit The average 15-year fixed mortgage rate increased as well, rising from 5.44 percent to 5.5 percent, while the average jumbo 30-year fixed rate climbed from 6.02 percent to 6.05 percent. Adjustable rate mortgages also moved slightly higher, with the average 5/1 adjustable rate mortgage rising from 5.4 percent to 5.46 percent, while the average one-year ARM ticked higher from 4.87 percent to 4.9 percent.

21.85% 11.48% 10.85% 8.96% 26.30% 12.99% 11.50% WALL STREET JOURNAL ARTICLES moreFed Rate Cut Consumers should soon start feeling the impact of the Fed rate cut, equity lines of credit, credit cards and some car loans. But the rate cut doesn't offer much help for the key problems bedeviling many mortgage borrowers. Take a look at what the Fed's action means for consumers. Plus, did the Fed make the right decision

Bad Car Credit Loan Fixed mortgage rates have been marching to a different tune than that set by the Federal Open Market Committee. Even though the Fed has increased short-term interest rates by a total of 2.75 percentage points since June 2004, the average 30-year fixed rate mortgage has fallen by nearly one-half percentage point in that time.

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Bad Credit Loan Mortgage In raising interest rates Sept. 20, the Fed acknowledged the short-term economic impact of Hurricane Katrina but indicated that over the long term it will "not pose a more persistent threat." The Fed is, instead, preferring to focus on inflation, which is sweet music to bond investors' ears. The Fed's aim to keep inflation low has been a prime contributor to the decline in long-term government bond yields and mortgage rates over the past 15 months. Mortgage rates are closely related to yields on Treasury securities.

Auto Bad Credit Loan Mortgage rates have not been an obstacle to home buyers as the average 30-year fixed mortgage rate has remained below 6 percent every week since April 13. While many adjustable rate mortgages are resetting to higher rates, low fixed mortgage rates represent an attractive option to both current and new home buyers. With the average 30-year fixed rate now at 5.88 percent, a loan of $165,000 carries a monthly payment of $976.56.

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