On Thursday morning, Freddie Mac reported 4.40 percent with an average 0.6 point as the average on a 30-year fixed-rate mortgage, edging up slightly for last week’s rates of 4.32 percent. At this time last year, rates averaged 3.57 percent.
From Freddie Mac vice president and chief economist Frank Nothaft on today’s rates:
Mortgage rates rose following the uptick on the 10-year Treasury note after comments by the Federal Reserve Board Chair Janet Yellen indicated a possible increase in interest rates as soon as early 2015. Also, the S&P/Case-Shiller 20-city composite house price index rose 13.2 percent over the 12-months ending in January 2014.
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/4.4_mortgage_rates_move_north/8288
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