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Mortgage Rates Hop Above 5 Percent

  • February 10th 2011

by Mark Wellborn

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Mortgage Rates Hop Above 5 Percent: Figure 1

Long-term interest rates jumped above five percent today to reach their highest rate since April. Freddie Mac reported 5.05 percent as the average on a 30-year fixed rate mortgage this morning, up from 4.81 percent last week.

The increase in mortgage rates comes on the heels of a report from Moody’s that home affordability had returned to pre-bubble levels and a day before President Obama is expected to release his proposal to revamp the mortgage market.

Here is a quick mortgage rate timeline over the last 18 months:

  • February 2, 2011 — 4.81%
  • January 14, 2011 — 4.71%
  • January 7, 2011 — 4.77%
  • December 4, 2010 — 4.46%
  • November 11, 2010 — 4.17%
  • October 7, 2010 – 4.27%
  • July 29, 2010 – 4.54%
  • April 23, 2010 — 5.07%
  • December 9, 2009 – 4.71%
  • October 14, 2009 – 4.87%
  • August 3, 2009 – 5.25%
  • June 12, 2009 – 5.65%

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

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/mortgage_rates_hop_above_5_percent/2979.

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