Mortgage Rates Rise Slightly

By: Associated Press Email
By: Associated Press Email

Rates on 30-year fixed mortgages rose slightly this week to an average of 4.23 percent, just above the lowest level in decades.

Mortgage buyer Freddie Mac says the average rate for 30-year fixed loans inched up from 4.21 percent the previous week. Earlier in the month, rates fell to 4.19 percent, the lowest average on records dating back to 1971.

The average rate on 15-year fixed loans rose to 3.66 percent. That was up from 3.64 percent a week earlier.

Rates have been at or near historic lows since April. Investors have been buying up Treasury bonds, concerned about the economic
outlook. That demand lowers Treasury yields, which mortgage rates
tend to track.


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