Tags: US | Mortgage | Rates

Rate on 30-Year Fixed Mortgage Rises to 4.86 Percent

Thursday, 31 Mar 2011 01:09 PM

 

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Fixed mortgage rates rose slightly this week, but the average rate on the 30-year loan remained below 5 percent.

Freddie Mac says the average rate on the 30-year fixed mortgage rose to 4.86 percent from 4.81 percent the previous week. It hit a 40-year low of 4.17 percent in November.

The average rate on the 15-year fixed mortgage increased to 4.09 percent from 4.04 percent. It reached 3.57 percent in November, the lowest level on records dating back to 1991.

Mortgage rates tend to track the yield on the 10-year Treasury note, which rose this week. Investors sold off Treasurys on fears the Federal Reserve might end its bond-buying program sooner than expected.

Low rates have done little to jumpstart the weak housing market.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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