Freddie Mac reported Thursday that mortgage rates rose again. This is the 5th week in a row that mortgage rates have increased. The 30 year, fixed rate mortage averaged a 4.83 percent interest rate, a level we last saw May 20, 2010.
A quote from Frank Nothaft, vice president and chief economist, Freddie Mac:
“Market concerns over stronger economic growth that, in the near term, could lead to an increase in inflation have sparked a rise in bond yields and mortgage rates have followed.”
Mortgage rate information is something to be watching if you are on the fence about a residential real estate transaction. Please contact a real estate agent if you’d like to discuss a home purchase or sale.