Freddie Mac said Thursday the rate on the 30-year fixed mortgage rose to 4.87 percent from 4.86 percent the previous week. It hit a 40-year low of 4.17 percent in November.
The average rate on the 15-year fixed mortgage increased to 4.10 percent from 4.09 percent. It reached 3.57 percent in November, the lowest level on records dating back to 1991.
Mortgage rates tend to track the yield on the 10-year Treasury note.
There are several reasons for this constant change in mortgage rates . If you are looking for mortgage loans in the market you will soon find various mortgage news and, if you have not found one yet.
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