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Friday, December 3, 2010

Mortgage Rates Continue Upward Climb

Daily Real Estate News, December 3, 2010

Freddie Mac reported that fixed-rate mortgages rose for a third consecutive week during the period ended Dec. 2.

· Interest on 30-year loans inched up to 4.46 percent from 4.4 percent.
· Rates on 15-year mortgages averaged 3.81 percent, an increase from 3.77 percent a week ago.

Adjustable-rate mortgages were slightly higher as well:

· One-year ARM rose up to 3.25 percent from 3.23 percent
· Five-year ARM moved up to 3.49 percent compared to 3.45 percent.

Source: Inman News (12/03/10)
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