Mortgage rates inched up this week, but continued to hover just below 4 percent.
Freddie Mac reported that a 30-year fixed-rate mortgage averaged 3.95 percent with an average 0.6 point, up two basis points from last week. Interestingly, last year at this time, rates were essentially the same at 3.93 percent.
“The economy added 211,000 new jobs in November exceeding analysts’ expectations, and the prior two months were revised higher as well,” said Sean Becketti, chief economist at Freddie Mac. “This momentum is likely to cement a decision by the Fed to begin raising interest rates this month.”
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/3.95_rates_tick_upward/10686
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