Mortgage Rates Hop Above 5 Percent
Long-term interest rates jumped above five percent today to reach their highest rate since April. Freddie Mac reported 5.05 percent as the average on a 30-year fixed rate mortgage this morning, up from 4.81 percent last week.
The increase in mortgage rates comes on the heels of a report from Moody’s that home affordability had returned to pre-bubble levels and a day before President Obama is expected to release his proposal to revamp the mortgage market.
Here is a quick mortgage rate timeline over the last 18 months:
- February 2, 2011 — 4.81%
- January 14, 2011 — 4.71%
- January 7, 2011 — 4.77%
- December 4, 2010 — 4.46%
- November 11, 2010 — 4.17%
- October 7, 2010 – 4.27%
- July 29, 2010 – 4.54%
- April 23, 2010 — 5.07%
- December 9, 2009 – 4.71%
- October 14, 2009 – 4.87%
- August 3, 2009 – 5.25%
- June 12, 2009 – 5.65%
See other articles related to: freddie mac, interest rates, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_hop_above_5_percent/2979.
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