John Maher

John Maher , loan officer for Bank of Illinois , said his bank was offering a 30-year , fixed rate mortgage at 7.375 percent , which is higher than the 7.125 rate offered a few weeks ago.

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Maher said home mortgage rates are determined not by Federal Reserve rate reductions but by 30-year government bonds ( which ) are a better indicator as to how the mortgage rates are going to be..