Freddie Mac says 30-year fixed-rate mortgage rates averaged 5.05 percent this week, up from 4.8 percent last week. That’s the highest rate since April.
A 15-year fixed mortgage averaged 4.29 percent, up from 4.08 percent last week.
Adjustable-rate mortgages also rose with a one-year ARM averaging 3.35 percent.
“Long-term bond yields jumped on positive economic-data reports, which placed upward pressure on mortgage rates this week,” says Frank Nothaft, chief economist at Freddie Mac (OTCBB:FOMC).
Meanwhile, the National Association of Realtors says the median price of an existing home rose in most cities during the fourth quarter. That wasn’t the case in Charlotte for January. The Charlotte Regional Realtor Association the average sales price was $188,147 in January, down 3 percent from December.
Charlotte Business Journal
Date: Friday, February 11, 2011, 9:39am EST
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