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4.86%: Mortgage Rates Inch Up Again

  • March 31st 2011

by UrbanTurf Staff

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4.86%: Mortgage Rates Inch Up Again: Figure 1

Long-term mortgage rates inched back up again this week. Freddie Mac reported 4.86 percent as the average on a 30-year fixed rate mortgage this morning, up from 4.81 percent last week. The rise in rates comes just days after federal regulators released a proposal that would revamp mortgage-lending rules and potentially raise mortgage costs for homeowners.

Frank Nothaft, vice president and chief economist at Freddie Mac, about this week’s rates:

Fixed mortgage rates rose slightly for a second week in a row, but continue to remain quite low. Low rates have benefited from relatively benign inflation reports. Inflation as measured by the 12-month growth in the core price index for consumer spending, a metric preferred by the Federal Reserve, is hovering near the lowest pace since 1960 when this data series began.

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

4.86%: Mortgage Rates Inch Up Again: 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/4.86_mortgage_rates_inch_up_again/3250.

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