Chapter 7 - Lesson 2
Mortgages

Data on current mortgage rates, recent trends, and more can be found at Bankrate.com. Visit the site; then answer the following questions.

Suggested keywords: Bankrate.com, mortgage rate data
Web site: http://www.bankrate.com

Your Name:

Today's Date:

Question 1:
From the home page, click the Mortgages link. What is the current average rate for a 30-year fixed mortgage? What was the rate last week?

Question 2:
Click the Graph link on the Overnight Averages chart next to 30-year fixed mortgages. Describe the trend in rates over the past three months. How do you account for this fluctuation?

Question 3:
Use the Choose a State option on the Mortgages page to find current rates for a 30-year fixed mortgage in Akron, Ohio; Los Angeles, California; and Miami, Florida. (Hint: When given the opportunity, sort data by rate.) Where were the lowest rates found? Highest? How do you explain this?