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3.92: Mortgage Rates Rise Slightly

  • March 15th 2012

by Shilpi Paul

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3.92: Mortgage Rates Rise Slightly: Figure 1

Long-term mortgage rates rose this week in light of positive employment news.

This morning, Freddie Mac reported 3.92 percent with an average 0.8 point as the average on a 30-year fixed mortgage. While rates have been below 4 percent for 15 consecutive weeks, this week’s higher rate marks a shift in direction.

Freddie Mac vice president and chief economist Frank Nothaft on the rising rates:

“An upbeat employment report for February caused U.S. Treasury bond yields to increase over the week and mortgage rates followed. The economy gained 227,000 jobs, above the market consensus forecast, and revisions added another 61,000 to January and December. Job growth over the last six months was the strongest since 2006.”

Here’s a look at the path of rates since January 2010:

3.92: Mortgage Rates Rise Slightly: Figure 2

See other articles related to: freddie mac, mortgage rates

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/3.92_mortgage_rates_rise_slightly/5294.

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