As if bidding wars and rising prices weren’t enough to make homebuyers panic, the continued increase in mortgage rates is adding to the mania. Interest rates for home loans hit a two-year high, with the average 30-year mortgage at 4.51 percent, according to new data from Freddie Mac. That’s a third higher than it was just two months ago, meaning that on a $200,000 loan, the monthly payment jumps from $881 to $1,015.
See on http://www.businessweek.com/articles/2013-07-11/how-rising-rates-could-help-the-mortgage-market
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