SAN FRANCISCO-Mortgage rates have zoomed up for the fifthconsecutive week, demonstrating higher pays on long-term Treasurysecurities. Freddie Mac has said that the average value of a30-year fixed-rate mortgage jumped to 4.83% from that of 4.61% lastweek.
In the last month, the 30-year fixed mortgage was 4.17%. Theaverage rate on a 15-year fixed mortgage rose to 4.17% from 3.96%.Since mortgage rates are soaring up, investors are transferringmoney from Treasurys into stocks. For the full story, go toSan Francisco Chronicle.
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