Mortgage rates push higher

Mortgage rates crept higher for the second straight week, buoyed by a Commerce Department announcement that retail sales for November were better than expected, Freddie Mac and Bankrate.com reported today in their weekly surveys.

In Freddie Mac's survey, the 30-year fixed-rate mortgage increased this week to an average 6.13 percent from 6.12 percent a week ago, and the 15-year fixed-rate mortgage gained from 5.86 percent to 5.89 percent.

Points, which are fees charged by lenders for loan processing expressed as a percent of the loan, averaged 0.4 on the 30- and 15-year loans.

more...

To continue reading sign in to your Premium Member account.

Premium Members have full access to all news archives.

Buy Now Purchase 1-year Premium Membership - $149.95

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.