Mortgage Rates Up Sharply from Start of Year
Washington, DC, Dec. 27, 2013 -- Thirty-year mortgage rates are closing out the year more than a percentage point higher than at the beginning of the year, according to Freddie Mac.
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The average rate for a 30-year fixed-rate mortgage hit 4.48% in the week ended Dec. 26, up from 3.34% in January. On a relative basis, that's up about 33%.
The average rate for a 15-year fixed-rate mortgage didn't rise quite as much, hitting 3.52% this week from 2.64% in January.
Mortgage rates hit their lows for the year in April and peaked in August. From there they trended down until the end of October, but have been rising ever since.