Mortgage Rates Rise...

Freddie Mac reported that mortgage rates are on the rise after being at a "standstill" last month. Despite this, mortgage rates are very affordable. Read the article, "Mortgage Rates on the Rise" found at Realtor Magazine below:

After being mostly at a standstill the past month, long and short-term mortgage rates were moving up this week, reports Freddie Mac in its weekly mortgage market survey.

"Mortgage rates followed Treasury yields higher over the holiday week but remain quite affordable by historical standards,” says Frank Nothaft, chief economist at Freddie Mac. “For instance, interest rates on all mortgage outstanding in the first quarter of this year averaged just under 6 percent. With today's rates, these home owners who have the ability to refinance could shave $169 per month in interest payments on a $200,000, 30-year fixed mortgage."

To buy a Broken Arrow home while rates are still low, contact Kelly Howard, McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com.