The Real Deal Miami

Mortgage rates rise with Fannie, Freddie fears 

July 23, 2008 08:17AM

Mortgage rates are rising due to concerns over Fannie Mae and Freddie Mac’s future. The average interest rate for 30-year fixed-rate mortgages increased to 6.71 percent from 6.44 percent last week. The average rate for “jumbo loans,” which cannot be sold to Fannie Freddie, was 7.8 percent, the highest rate in almost eight years.