Sunday, July 5, 2009, 10:46PM ET - U.S. Markets Closed.
Commentary: Affordability ultimately hits the economy
This column originally was published in the weekend edition of The Wall Street Journal.
Stephen Levy is worried about the health of the housing market in California.
Even if you haven't heard of him or are simply tired of hearing about anything having to do with housing, Levy is a man who should be listened to. As senior economist at the Center for Continuing Study of the California Economy in Palo Alto, Calif., which he co-founded more than 35 years ago, Levy has seen more than his share of cycles.
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See today's average rates across the country.
| Loan Type | Today | Last Week |
|---|---|---|
| 30 Year Fixed | 5.34% | 5.46% |
| 15 Year Fixed | 4.86% | 4.86% |
| 1 Year ARM | 4.07% | 4.04% |
| 30 Year Fixed Jumbo | 6.51% | 6.51% |
| 5/1 ARM | 4.56% | 4.79% |
| 3/1 ARM | 5.39% | 5.18% |
| Loan Type | Today | Last Week |
|---|---|---|
| $30K Home Equity Loan | 8.37% | 8.34% |
| $50K Home Equity Loan | 8.23% | 8.20% |
| $75K Home Equity Loan | 8.22% | 8.18% |
| $30K HELOC | 5.06% | 5.04% |
| $50K HELOC | 4.80% | 4.78% |
| $75K HELOC | 4.80% | 4.79% |
| Loan Type | Today | Last Week |
|---|---|---|
| 36 Month New Car Loan | 7.14% | 7.15% |
| 48 Month New Car Loan | 7.30% | 7.31% |
| 60 Month New Car Loan | 7.39% | 7.40% |
| 36 Month Used Car Loan | 7.77% | 7.78% |
| 48 Month Used Car Loan | 7.89% | 7.90% |
| Card Type | Today | Last Week |
|---|---|---|
| Balance Transfer Credit Cards | 10.14% | 9.98% |
| Low Interest Credit Cards | 10.41% | 10.41% |
| Business Credit Cards | 11.41% | 11.24% |
| Cash Back Credit Cards | 11.56% | 11.20% |
| Reward Credit Cards | 12.10% | 12.03% |
| Instant Approval Credit Cards | 12.99% | 12.49% |
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