Business Services Industry
The Post and Courier, Charleston, S.C., Finance Column.
Knight Ridder/Tribune Business News, April, 2004
By Frank Norton, The Post and Courier, Charleston, S.C. Knight Ridder/Tribune Business News
Apr. 12--HOME MORTGAGE RATES RISE: Mortgage rates last week rose to their highest levels this year and nearly broke the 6 percent mark before easing to 5.82 percent Friday, according to estimates by HSH Associates, a New Jersey-based mortgage tracker.
The surge in rates was yet another sign to prospective buyers in Charleston and elsewhere that historic-low borrowing costs may soon give way to higher-priced home loans.
The average 30-year fixed-rate mortgage hit 5.95 percent last week, up from a low of 5.62 the previous week, HSH estimated.
That change would have meant an additional $52.50 a month on monthly payments for a $250,000 loan....
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