Carolann Haley needs $105

Mortgage rates rose at the highest rate in three decades this week as senior Federal Reserve officials attempted Thursday to calm investors’ nerves about when the central bank will begin to taper its bond-buying program this year. It is already proving costly for potential buyers like Carolann Haley. When Haley began shopping for a home three weeks ago, banks offered her a loan with a 3.8 percent... [more]

Mortgage rates rose at the highest rate in three decades this week as senior Federal Reserve officials attempted Thursday to calm investors’ nerves about when the central bank will begin to taper its bond-buying program this year. It is already proving costly for potential buyers like Carolann Haley. When Haley began shopping for a home three weeks ago, banks offered her a loan with a 3.8 percent rate. But by the time she was ready to put in an offer for a condominium in Reston, the price had risen to a 4.6 percent rate. That’s an extra $105 a month on her mortgage payment. “My monthly payments are very important to me,” Haley said. “This started as financially feasible, and now I can’t believe this is happening to me.” http://www.washingtonpost.com/business/economy/mortgage-rates-spike-in-response-to-fed-statement-30-year-crosses-4-percent-mark/2013/06/27/4801bca4-df32-11e2-963a-72d740e88c12_story.html [less]