Mortgage Rates Rise: Commitment rates for fixed-rate...
Mortgage Rates Rise: Commitment rates for fixed-rate mortgages rose 25 basis points to 11.36% in early March and those for adjustable-rate home loans climbed 15 basis points to 9.75%, the Federal Home Loan Bank Board reported. In each case, it was the highest in several months. A basis point is 1/100 of a percentage point. “The increases in the early March rates reflected the general tightening in credit markets during February,” explained James Barth, bank board chief economist.
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