With news of debt relief in Europe, and the U.S. economy and housing market showing improvement, Freddie Mac announced a rate increase after 3 months of record low drops.  A 30 year mortgage rose to 3.55 percent, up from 3.49 percent the week before. 15 year loans are up to 2.83 percent from 2.8 percent and 5-year ARM's went up slightly from 2.74 percent to 2.75 percent.

The U.S. economy grew at a rate of 1.5 percent in the second quarter of 2012 and 18 of the top 20 cities in the U.S. showed positive growth in home prices, according to Freddie Mac.  Consumer confidence also rose in July for the first time in five months, according to The Conference Board."

Good news on the home front!

Read more at DSNews.com

photo credit: Philip Taylor PT

Posted in Headlines, Mortgage

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