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Home / Blog / Headlines & News / Mortgage rates have risen about a full percentage point since hitting record lows about a year ago.

Mortgage rates have risen about a full percentage point since hitting record lows about a year ago.

April 7, 2014 By Mary Catchur

Mortgage Rates
Photo Credit: Mark Moz/Flickr/CC

USA Today reported last week that Mortgage Rates continue to rise, increasing about a full percentage point since hitting record lows about a year ago.

Mortgage buyer Freddie Mac said Thursday the average rate for the 30-year loan ticked up to 4.41% from 4.40% last week. The average for the 15-year mortgage increased to 3.47% from 3.42%.

Read the USA Today article: Average 30-year mortgage rate rises to 4.41%.

The increase in mortgage rates over the year was driven by speculation that the Federal Reserve would reduce its $85 billion-a-month bond purchases, which have helped keep long-term interest rates low. Indeed, the Fed has announced three $10 billion declines in its monthly bond purchases since December. The latest plan is to cut its monthly long-term bond purchases to $55 billion because it thinks the economy is steadily healing.

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Filed Under: Headlines & News Tagged With: mortgage rates, Mortgage Rates Rise

Opinions, estimates, forecasts and other views contained in this page do not necessarily represent the views of Marimark Mortgage or its management and should not be construed as an offer to provide financing at the rates or terms mentioned. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval. Although Marimark Mortgage attempts to provide reliable, useful information, it does not guarantee that the information is accurate, current or suitable for any particular purpose. Information from this page may be used with proper attribution.

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