WASHINGTON (AP) - Fixed mortgage rates rose this week by the
most in four months.
Freddie Mac says the average rate on the 30-year loan increased
to 4.60 percent, up from 4.51 percent a week ago. It hit its lowest
level of the year three weeks ago, at 4.49 percent.
The average rate on the 15-year fixed mortgage, a popular
refinancing option, rose to 3.75 percent. It reached its low point
of the year two weeks ago, at 3.67 percent.
Rates typically track the yield on the 10-year Treasury note,
which has been rising. And mortgage rates could rise further now
that the Federal Reserve's $600 billion bond buying program has
Low mortgage rates and plummeting home prices have done little
to boost the troubled housing market.