Summary Box: Mortgage rates on the rise on strong economic news, end of Fed support
By APWednesday, April 7, 2010
Summary Box: Rising mortgage rates
JUMPING UP: Mortgage rates jumped over the past week, rising to 5.31 percent from 5.04 percent a week earlier, according to the Mortgage Bankers Association.
END OF AN ERA: The Federal Reserve was able to hold rates down to record lows over the past year by purchasing $1.25 trillion in mortgage securities. That program ended last week.
HOUSING MARKET IMPACT: For every 1 percentage point rise in rates, 300,000 to 400,000 would-be buyers are priced out of the market in a given year, according to the National Association of Realtors.
YOUR VIEW POINT
