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Monday, October 17, 2005

Mortgage News

Mortgage rates now:
30yr fixed: 6.03%

Frank Nothaft, Freddie Mac vice president and chief economist, sees economic growth accelerating in 2006 which combined with higher energy costs will push rates higher in coming months. He noted, "Mortgage rates are projected to rise gradually over the next year, with the 30-year FRM expected to hover around six percent through 2005, and reach 6.4 percent by 2006. Still, although mortgage rates have been rising for the last several weeks, they still remain historically very affordable and home sales this year will most certainly be at record high levels."

Bobbi Dickerson, loan officer
Preferred Mortgage


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