Released on = February 1, 2006, 10:25 pm

Press Release Author = I Loan Resource

Industry = Accounting

Press Release Summary = Rates on 30-year mortgages, after falling for six straight
weeks, edged up slightly this week as investors anticipated another rate hike from
the Federal Reserve, according to a national survey released Thursday.

Press Release Body = January 27, 2006

Rates on 30-year mortgages, after falling for six straight weeks, edged up slightly
this week as investors anticipated another rate hike from the Federal Reserve,
according to a national survey released Thursday.

Mortgage giant Freddie Mac said its survey showed that rates on 30-year, fixed-rate
mortgages rose to 6.12 percent, up from 6.10 percent last week.

Rates had been falling since mid-December, when the 30-year mortgage hit a high of
6.32 percent.

\"The minuscule rise in mortgage rates this week most likely reflects market
expectations that the Federal Reserve will once again raise rates next week,\" said
Frank Nothaft, Freddie Mac\'s chief economist.

The Fed is widely expected at its meeting on Tuesday to boost a key interest rate
for the 14th consecutive time. Many economists believe the central bank\'s
credit-tightening campaign to keep inflation under control is drawing to an end with
perhaps just one more rate hike after next week.

If the Fed does wrap up the rate increases at the March 28 meeting, then analysts
said they expect 30-year mortgages to rise only gradually for the rest of the year,
perhaps hitting 6.75 percent next December.

Other mortgage rates were up as well this week. Rates on 15-year fixed-rate
mortgages, a popular choice for refinancing a home mortgage, averaged 5.7 percent,
up from 5.67 percent last week.

One-year adjustable rate mortgages edged up to 5.2 percent, compared with 5.18
percent last week.

Rates on five-year hybrid adjustable-rate mortgages, however, were unchanged at 5.75
percent, the same level as last week.

The averages for mortgage rates do not include add-on fees known as points. The
30-year and 15-year mortgages carried a nationwide average fee of 0.5 point while
the one-year and five-year adjustable-rate mortgages carried an average fee of 0.6
point.

A year ago, 30-year mortgages averaged 5.66 percent, 15-year mortgages stood at 5.14
percent, one-year ARMs were at 4.18 percent and five-year ARMs averaged 5.02
percent.


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