US mortgage rates rise from record low-Freddie Mac
Interest rates on U.S. 30-year
fixed-rate mortgages rose 0.06 percentage point in the latest
week, according to a survey released on Thursday by home
funding company Freddie Mac.
Interest rates on the 30-year fixed-rate mortgage averaged 4.84 percent, with lenders charging an average of 0.7 percent in fees and points, for the week ending May 7, up from the previous week, when it equaled the record low set the week of April 2, according to Freddie Mac.
Five weeks earlier, mortgage rates were 4.78 percent, the lowest since Freddie Mac started surveying them in 1971.
Mortgage rates rose slightly this week amid positive economic news that the economy may be approaching the bottom of the recession, Frank Nothaft, Freddie Mac vice president and chief economist, said in a statement.