Thursday, December 09, 2010

Freddie Mac: Mortgage Rates rise to Five-Month High

by Calculated Risk on 12/09/2010 11:29:00 AM

From Bloomberg: Mortgage Rates for U.S. Loans Jump to Five-Month High

U.S. mortgage rates surged to a five- month high ... The average rate for a 30-year fixed loan increased to 4.61 percent in the week ended today from 4.46 percent, Freddie Mac said in a statement.

The average rate for a 30-year loan climbed for a fourth straight week after falling to 4.17 percent last month, the lowest in records dating to 1971.
These rates are still low, but this increase will significantly impact refinance activity.