At the end of last week, 30-year fixed-rate mortgages averaged 3.81 percent (with 0.8 points), up from 3.63 percent two weeks before, the highest rate in over a year. A year ago the 30-year mortgage rate averaged 3.75 percent. The all-time low of 3.31 percent was recorded this past November.
As we pointed out in January, while rates had been dropping, they were set to start ticking-up this year. And as a plugged-in reader notes, in the past couple of days the average 30-year rate appears to have ticked up to over 4 percent for the first time since 2011.
The 30-year fixed mortgage rate has averaged 8.61 percent over the past forty years.
∙ Mortgage Rates Drop, But Set To Start Ticking Up This Year? [SocketSite]
∙ Fixed Mortgage Rates Highest in a Year [Freddie Mac]