Getting your player ready...
Rates on 30-year mortgages rise for 2nd week
National rates on 30-year mortgages rose for a second straight week last week as financial markets reacted to the decision by the Federal Reserve to boost interest rates because of worries about inflation. Mortgage giant Freddie Mac reported Thursday that the average rate on 30-year, fixed-rate mortgages rose to 5.80 percent, up from 5.74 percent the week before. Below are average mortgage rates in Denver, Adams and Arapahoe counties as of Thursday and the previous 52 weeks. The one-year Treasury bill average reported by the Federal Reserve Bank is 3.82 percent. The Cost of Funds Index for July from the Federal Home Loan Bank was 2.757 percent.
