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4.81%: Mortgage Rates Inch Back Up

  • March 24th 2011

by UrbanTurf Staff

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4.81%: Mortgage Rates Inch Back Up: Figure 1

Long-term mortgage rates inched back up this week after dropping for the five previous weeks. Freddie Mac reported 4.81 percent as the average on a 30-year fixed rate mortgage this morning, up from 4.76 percent last week.

Freddie Mac vice president and chief economist Frank Nothaft attributed the rate increase to recent inflation data and “ongoing geopolitical concerns”:

“Mortgage rates were up this week compared to last, but still remain at relatively low levels. The rate uptick was related to higher than anticipated inflation data for February and ongoing geopolitical concerns.”

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

4.81%: Mortgage Rates Inch Back Up: Figure 2

See other articles related to: freddie mac, interest rates, mortgage rates

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/4.81_mortgage_rates_inch_back_up/3211.

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