Mortgage rates bounce back

Home loans expected to remain affordable in the long term

Get smarter. Grow your referral network at Inman Connect San Francisco
Limited seating still available, July 17-20

Mortgage rates were up sharply this week, bouncing back from record lows following the release of a better-than-expected jobs report, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey.

While forecasters expect rates on 30-year fixed-rate mortgages will stay well below 5 percent through 2012, strong economic growth could trigger a faster rise in long-term interest rates, including mortgages.