4.12: Mortgage Rates Edge Up Slightly

• September 11, 2014

by Lark Turner

On Thursday morning, Freddie Mac reported 4.12 percent with an average 0.5 point as the average on a 30-year fixed-rate mortgage, down slightly from last week.

Rates have been uncharacteristically low for weeks, a phenomenon experts hadn’t predicted.

Freddie Mac’s Frank Nothaft said in a release that an increase in Treasury yields may have contributed to the slight uptick in rates, but suggested disappointing employment figures were helping to keep it low.

“Mortgage rates were up slightly this week, following the increase in 10-year Treasury yields, despite last week’s disappointing employment report. The U.S. economy added only 142,000 jobs in August, after a 212,000 gain in July and a 267,000 increase in June. The unemployment rate fell to 6.1 percent in August from 6.2 percent the previous month.”

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

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.

This article originally published at http://dc.urbanturf.com/articles/blog/4.12_mortgage_rates_edge_up_slightly/8962