Mortgage Rates Rise To 4.23 Percent, Near Record Low - Spokane, North Idaho News & Weather KHQ.com

Mortgage Rates Rise To 4.23 Percent, Near Record Low

WASHINGTON (AP) - Rates on 30-year fixed mortgages rose slightly this week to an average of 4.23 percent, just above the lowest level in decades.

Mortgage buyer Freddie Mac says the average rate for 30-year fixed loans inched up from 4.21 percent the previous week. Earlier in the month, rates fell to 4.19 percent, the lowest average on records dating back to 1971.

The average rate on 15-year fixed loans rose to 3.66 percent. That was up from 3.64 percent a week earlier.

Rates have been at or near historic lows since April. Investors have been buying up Treasury bonds, concerned about the economic outlook. That demand lowers Treasury yields, which mortgage rates
tend to track.

      
    (Copyright 2010 by The Associated Press.  All Rights Reserved.)
   

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