43 seconds ago, carol, was mortgage rates. get those every thursday morning. mortgage rates ticked higher, 4.46% for a 30-year fixed rate mortgage. lot of forecast and mortgage rates, carol, especially if the economy starts to strengthen into next year. mortgage rates will rise from here. so don t delay if you still want to get one of those mortgages below 5%. carol? thanks, christine romans. we appreciate it, despite that good economic news, the wage gap remains very large in this country. fast food workers across the nailg nation are taking to the picket lines, fighting to close that pay gap, calling for a raise up to 15 bucks an hour, nearly $25,000 a year if you work full time. powerful ally on its side now, president obama. we know that we re going to have a greater and greater portion of our people in the service sector.
thoughts. the 30-year fixed rate up from 3.35 in may to 4.46 in late june. but we found a handful of homes with prices that will surely ease your worries. michael corbett is a real estate expert and the author of find it, fix it, flip it. good morning, michael. good morning, peter. you re absolutely right. according to the latest trulia trends report, 41% of all new home buyers think that rising interest rates are going to be the road block to their homeownership right now. that s a significant change in attitude. peter: let s see if they should be. let s look at mobile, alabama and our first home. tell us about that. our first one is about $175,000. three bedrooms, two baths, 1600 square feet. this house is really charming. it s a beautiful home with wonderful columns in it. take a look at this. it s got built-ins, a wooden
fixed rate fell to 4.29%. it s down from the 4.46% earlier. the rate on the 15-year fixed rate declined in the latest week to 3.39%. besides the fourth of july, one sure sign summer is in full swing is music festivals. they can be huge moneymakers. cnn money looked at the business and took the festival as an example. it s one of the most profitable festivals. they sold 158,000 tickets and pulled in $47 million in revenue. that s up from $17 million in 2007. tickets for the 2013 festival, which took place in april sold out in 28 minutes. interesting to see that. oftentimes, ticket sales for individual concerts struggle. when you put a group together, like at this music festival, they seem to do well. more bang for your buck. it s an 80s throwback,
rates in one week since april of 1987. last week, rates soared. rates on fixed loans rose to 4. 4.46%. 15 year fixed rate jumped to 3.5%. mortgage rates have been on the rise since late april. the average rate was 3.56 since early may, the highest since july 2011. let s do the math. a $200,000 home loan costs 1,008 a month in may. a monthly payment now is 1,008 from $881. why is this happening? the fed may start tapering back its compare stimulus. that stimulus has kept mortgage rates low. it can t last forever. that means you will pay more to borrow. don t get me wrong, rates still historically low but not nearly the deal you were getting a year
through tomorrow morning. heather: home sales are a key factor in our economic recovery but the average 30 year mortgage shooting up to 4.46 percent, the biggest weekly jump in 25 years. will rising mortgage rates put the breaks on the economy? we will bring in the senior business correspondent and anchor of bulls and bears. thanks for coming back. why the rise? reporter: because the fed is saying we could ease up on the easy money policy. they have been buying $85 billion worth of bonds each month. that has kept interest rates very low. they said maybe if unemployment is low enough, we could ease up on that. it was sooner than the market expected. heather: bernanke said that last week, said it was a possibility. in terms of the mortgage rates,