Wednesday, February 01, 2012

Rates Turn Up a Bit

Rates were up for the first time in several weeks as Freddie Mac announced a rise for the week ending January 26. 30-year fixed rates averaged 3.98%, up from 3.88% the previous week. The average for 15 year loans rose to 3.24%. Adjustable rates were up slightly, with the average for one-year adjustables increasing to 2.74% and five-year adjustables rising to 2.85%.

GROUNDHOG DAY UPDATE: Like Bill Murray, we've been here before -- rates have just dropped again to new record lows! We're now seeing rates as low as 3.65 to 3.85%.

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