Rates on 30-year mortgages rose this week to the highest level in nine weeks as financial markets reacted to a series of more upbeat financial reports.
Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.23 percent this week, up from 6.21 percent last week.
The Freddie Mac survey showed that other types of mortgage rates experienced slight increases this week.
Rates on 15-year, fixed-rate mortgages edged up to 5.98 percent.
Five-year adjustable rate mortgages rose to 6.04 percent, up from 6.03 percent. One-year ARMs rose to 5.51 percent, up from 5.44 percent last week.
People
Karen Schweinfurth is the new president of the Snohomish County Camano Association of Realtors for 2007. She is a sales associate for RE/MAX Northwest of Everett. The 2006 president, Dave Miles, was awarded Realtor of the Year at the association’s annual meeting.
Seminars
A free seminar for first-time home buyers will be held from 10:30 a.m. until 3:30 p.m. Jan. 27 at the Lynnwood Public Library, 19200 44th Ave. W. It’s sponsored by John L Scott Realty and Golf Savings Bank. Those who complete the seminar will receive a certificate fo qualification for the state Housing Finance Commission’s first-time buyer program. Call Rhoda Kiely at 425-478-4167 for more information.
Honors
State Rep. Brian Sullivan, D-Mukilteo, has been named 2006 citizen of the year for the Snohomish County Camano Association of Realtors. The annual award is present to people who demonstrate outstanding service to the community. Sullivan was described as a “champion for homeowners” while working in the Legislature.
Sendnews to Mike Benbow, Business editor, The Herald, P.O. Box 930, Everett, WA 98206, by fax at 425-339-3435 or by e-mail at economy@heraldnet.com.
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