Inflation, It’s Not Just For Balloons Anymore

Mortgage rates posted growth this week on renewed inflation fears, according to surveys conducted by Freddie Mac and Bankrate.com.

In Freddie Mac’s survey, the 30-year fixed-rate mortgage rose to an average 6.16 percent from 6.14 percent last week, while the 15-year fixed-rate mortgage gained from 5.88 percent to 5.9 percent. Points, which are fees lenders charge for loan processing expressed as a percent of the loan, averaged 0.4 on the 30- and 15-year loans.

A Drop In The Bucket, But Still A Drop

Long-term mortgage interest rates were down Wednesday, and the benchmark 10-year Treasury bond yield sank to 4.54 percent.

The 30-year fixed-rate average fell to 5.67 percent, and the 15-year fixed rate slipped to 5.42 percent. The 1-year adjustable held at 5.32 percent.

The 30-year Treasury bond yield inched up to 4.72 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.

Bankrate.com