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3.93: Mortgage Rates Tick Up Slightly

  • December 11, 2014

by Lark Turner

3.93: Mortgage Rates Tick Up Slightly: Figure 1

Mortgage rates continue to hover below 4 percent this week, but are up slightly from last week’s 19-month-low, Freddie Mac said Thursday.

Rates on a 30-year fixed-rate mortgage averaged 3.93 percent with an average 0.5 point this week, up from last week’s 3.89 percent but still lower than a year ago, when rates averaged 4.42 percent.

Freddie Mac’s chief economist Frank Nothaft said in a news release that the increase was due to positive signs in employment data.

“The rate rise comes on the heels of an uplifting jobs report showing nonfarm payrolls adding 321,000 new jobs in November — 91,000 more jobs than expected,” he said. “The unemployment rate remained unchanged at 5.8 percent.”

UrbanTurf is following the path of the rates in this chart:

3.93: Mortgage Rates Tick Up Slightly: Figure 2

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.

See other articles related to: mortgage rates

This article originally published at http://dc.urbanturf.com/articles/blog/3.93_mortgage_rates_tick_up_slightly/9333

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