Rates on fixed mortgages go slightly higher
Posted: 11/25/2010 01:00:00 AM MST
(Amy Sancetta, The Associated Press)NEW YORK — Rates on fixed-rate mortgages edged up again from the lowest levels in decades, making it slightly less attractive for Americans to buy or refinance in a market that’s struggling to recover.
Freddie Mac said Wednesday the average rate for 30- year fixed-rate loans rose to 4.40 percent this week from 4.39 percent last week. Two weeks ago, the rate hit 4.17 percent, the lowest level on records dating to 1971.
The 15-year loan also increased, to 3.77 percent from 3.76 percent.
It hit its lowest point since the survey began in 1991 two weeks earlier at 3.57 percent.