Friday, June 13, 2014
Fixed mortgage rates rise in the U.S.
The average fixed mortgage rates in the U.S. have increased for the second consecutive week, even when located near historic lows. The mortgage buyer Freddie Mac said the average rate for a 30-year loan rose to 4.20% from 4.14% last week. The average rate for 15-year mortgage rose to 3.31% from 3.23%. The price increases and interest rates that began in mid-2013 have made less affordable housing. At the same time, there is a limited supply of housing. Mortgage rates are about 0.25% higher than the same period last year. Mortgage rates tend to follow the trend of interest in government bonds to 10 years. The 10-year bond offered a rate of 2.64%, up from 2.60% the previous week on Wednesday.