Rates on two-year fixed mortgages top 7%

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Rates on two-year fixed mortgages top 7%

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06-25-2008, 02:36 PM

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Rates on two-year fixed mortgages top 7%

New borrowers taking out two-year fixed-rate mortgages now face paying interest at over 7%.According to Moneyfacts, the financial information website, rates on this highly popular type of home loan are at their highest since February 1997. Five years ago, two-year fixed mortgage rates were around 4% and the increase means that the monthly cost of [...]

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