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Thursday, December 9, 2010

Mortgage rates reach 6-month peak

The benchmark 30-year fixed-rate mortgage rose 18 basis points this week, to 4.89 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week's survey had an average total of 0.36 discount and origination points. One year ago, the mortgage index was 5.04 percent; four weeks ago, it was 4.46 percent.
It's the highest level for the 30-year fixed since Bankrate.com's June 2 survey, when the benchmark rate was 4.95 percent.
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