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.