The Real Deal Miami

As prices fall, mortgage rates rise 

June 27, 2008 07:07AM

Homebuyers across the U.S. won’t have an easy time taking advantage of falling prices, as mortgage rates continue to rise, according to a new study by Zillow.com, which provides home valuations. In 41 of the top U.S. housing markets, monthly payments on 30-year fixed mortgages are 6 to 10 percent higher than they were two months ago. In 88 percent of those areas, first-quarter prices declined from a year earlier, Zillow reported.