Mortgage interest rates have been on the rise for the past month off the all-time record lows set just a few weeks ago.
“I do think that perhaps the all-time low is behind us,” says Frank Nothaft, Freddie Mac’s chief economist.
The record low for the 30-year fixed-rate averaged 3.31 percent in November, according to Freddie Mac’s weekly mortgage market survey. For the week ending Jan. 31, Freddie Mac reported a national average of 3.53 percent for the 30-year fixed-rate mortgage. See what is expected for 2013 and 2014 rates. Read more...
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