Freddie Mac: Mortgage rates higher amid crisis; 30-year at 4.28%
Fixed mortgage rates rose early this week amid the debt crisis, Freddie Mac‘s latest survey showed, with lenders offering the 30-year home loan at an average of 4.28%, up from 4.23% a week earlier.
The offering rate for 15-year fixed mortgages averaged 3.33%, according to the survey, up from 3.31% last week.
The survey was conducted Monday through Wednesday morning, a period when it was uncertain if Congress would lift the maximum amount of debt the government can shoulder.
The agreement to temporarily resolve the crisis, reached late Wednesday, caused the yield on the 10-year Treasury note, a proxy for home lending rates, to decline slightly this morning….read more