Thursday 14 November 2013

Mortgage Rates Continue to Climb

Posted by at 3:51 PM

Average fixed mortgage rates rose again this week in response to more reports that portrayed the economy as strengthening. Freddie Mac said the average interest rate on a 30-year, fixed rate mortgage was 4.35 percent this week, the highest it's been since mid-September when it averaged 4.5 percent. It was the second consecutive weekly increase. The average rate was 4.16 percent last week and 3.34 percent a year ago. The average interest rate on a 15-year, fixed-rate mortgage was 3,35 percent, up from with 3.27 percent last week and 2.65 percent a year ago.

By Mary Ellen Podmolik
Full Article Chicago Tribune Nov 14th, 2013