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Mortgage Rates Resume Climb

Mortgage rates home sales
Mortgage rates rose this week after two consecutive weeks of decline, lender Freddie Mac said Thursday.

Rates earlier this month had touched a two-year high.

The rate on a 30-year, fixed-rate mortgage averaged 4.39 percent this week, up from last week’s 4.31 percent. Last year at this time, it averaged 3.55 percent.

A 15-year fixed-rate mortgage carried an average rate of 3.43 percent, compared with last week’s 3.39 percent. A year ago, it was 2.83 percent.

Freddie Mac attributed the bump to anticipation leading up to Wednesday’s statement from the Federal Reserve. The Fed statement indicated no change in monetary policy, in the midst of still-high unemployment and an economy that’s expanding modestly.


*Courtesy of Chicago Tribume

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