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Washington
30- 15-year mortgage rates continue slow climb
WASHINGTON (12/5/10)--The average rate on both 30-year and 15-year fixed-rate mortgages rose again last week, continuing a gradual rise from record lows that began in mid-November. As reported in Freddie Mac's most recent mortgage rate survey, the rate on 30-year mortgages averaged 4.46% and 15-year mortgages averaged 3.81%. Those mortgage rates averaged 4.40% and 3.71% last week, respectively. Both five-year and one-year adjustable rate mortgages remained low, but increased, with average rates of 3.49% and 3.25% reported. While the mortgage rates remained low, Freddie Mac Vice President/Chief Economist Frank Nothaft noted that house price indices are “trending downwards." For the full release, use the resource link.
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