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3.62: Rates Keep Moving Up

by Shilpi Paul

3.62: Rates Keep Moving Up: Figure 1

After many weeks of dropping, long-term mortgage rates rose for the third week in a row.

This morning, Freddie Mac reported 3.62 percent with an average 0.6 point as the average on a 30-year fixed-rate mortgage.

From Freddie Mac vice president and chief economist Frank Nothaft:

The latest economic indicators point toward low inflation but gradually stronger economic activity which placed further upward pressure on long-term Treasury yields and, in turn, fixed mortgage rates.

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

Here’s a look at the path of rates since January 2010:

3.62: Rates Keep Moving Up: Figure 2

See other articles related to: mortgage rates

This article originally published at http://dc.urbanturf.com/articles/blog/3.62_rates_keep_moving_up/5918

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