USA Today (06/30/08); Bahney, Anna
With Freddie Mac reporting a jump in the 30-year fixed mortgage rate to 6.45 percent during the week ended June 26 from 5.48 percent in January, there are concerns that the housing slump will be extended and home prices will decline even more. LendingTree chief economist Cameron Findlay does not expect mortgage rates to rise dramatically during the next three months, given that the Federal Reserve already has taken inflation concerns into account. However, over the next six months, he notes, "If we don't have inflation under control by then, and there are still signs of inflation--the dollar's continuing to be eroded, oil prices are still high--rates are going to be rising faster."
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