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Washington
30- 15-year mortgage rates rise from record lows
WASHINGTON (11/15/10)--The average rate on both 30-year and 15-year fixed-rate mortgages rose from previous record lows this week. As reported in Freddie Mac's most recent mortgage rate survey, both mortgage rate averages showed double-digit basis point increases, with 30-year mortgages averaging 4.39% and 15-year mortgages averaged 3.76%. Those mortgage rates averaged 4.17% and 3.57% last week, respectively. Both five-year and one-year adjustable rate mortgages remained low, with average rates of 3.4% and 3.26% reported. Freddie Mac Vice President/Chief Economist Frank Nothaft noted that rates on shorter-maturity loans also rose, “although by somewhat lesser amounts.” For the full release, use the resource link.
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