5th Straight Week Mortgage Rates Rose

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.

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