Mortgage rates rise
CHICAGO (MarketWatch) — Interest rates on both fixed-rate and adjustable-rate mortgages rose this week, according to Freddie Mac’s weekly rate survey released on Thursday.
“Mortgage rates followed bond yields higher this week following reports of record continuing jobless claims and a downward revision in economic growth in the fourth quarter of 2008,” said Frank Nothaft, Freddie Mac chief economist, in a news release. “Real gross domestic product was revised from a 3.8% decline to a 6.2% drop in the fourth quarter mostly led by a 4.3% fall in consumer spending, which was the largest decrease since the second quarter of 1980.”
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