30-Year Fixed Rises Above 4.5 Percent

Posted by Bonnie Martin Designated Broker on Friday, January 3rd, 2014 at 2:20pm.

interest__max5128_450realtor.com - As we rang in the New Year, the 30-year fixed average inched up for the third consecutive week, going above the 4.5 percent threshold for the first time since mid-September. Previously at 4.48 percent, the average rate on a 30-year loan is now trending at 4.53 percent, according to the latest survey from mortgage buyer Freddie Mac. The current rate reflects an increase of 1.19 percentage points from where it stood a year ago, at 3.34 percent.

The average on a 15-year fixed-rate mortgage also saw a slight uptick, climbing from 3.52 percent to 3.55 percent over the last week. A year ago, it averaged 2.64 percent. Similarly to the 30-year fixed-rate average, the average on the 15-year fixed-rate loan stayed consistently below the 3.5 percent threshold since late September. It increased slightly each week since the Fed’s announcement.

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