USA Today reports that mortgage rates are up slightly.
Read the article: Mortgage rates edge up slightly.
Average fixed-rate mortgages edged up slightly from last week, applying additional pressure for some already-pinched local real estate markets, Freddie Mac reported Thursday.
Data from the mortgage finance giant’s weekly survey showed 30-year fixed-rate mortgages averaged 4.40% up from 4.32% on March 20.
Additionally, 15-year fixed-rate mortgages averaged 3.42%, up from 3.32% last week, the data showed.
Mortgage Rates are Expected to Rise in 2014 and 2015
Mortgage Rates are expected to rise to above 5% in 2014, and then increase to 5.5% by the end of 2015.
It’s inevitable that rates would rise from the historic lows we’ve been experiencing. But, there’s still time to take advantage of great rates, and save money over the long-run.
Please contact us if you are thinking of taking advantage of historic low rates. We would appreciate the opportunity to serve you, and help you reach your financial goals.