Thursday, December 24, 2009

30-Year Mortgage Rate Jumps Above 5%

If you haven't locked in your mortgae rate, do it now.

The trend in rates is going to be up for a long, long time.

Interest rates on U.S. 30-year fixed-rate mortgages, the most widely used loan, averaged 5.05 percent for the week ended Dec. 24, up from the previous week's 4.94 percent, according to a survey released by Freddie Mac.

Three weeks earlier the rate was at 4.71 percent, the lowest since Freddie Mac started the survey in 1971.


  1. This happened recently during the time around Memorial Day, then rates came back down. The Fed must have a lot of MBS buyers off on vacation this week from the Asylum.

    Today's rate in the great white north is 5.125%.

  2. And we accept the accuracy of this survey because Freddie Mac is an organization of unblemished integrity.