Mortgage Rates Edge Up, Breaking 12-Week Descent to Record-Lows

Mortgage Rates Edge Up, Breaking 12-Week Descent to Record-Lows

Long-term mortgage rates inched up this week, breaking a buyer-friendly trend of successively falling to record-lows week after week for the past three months. The question now is, will the threat of rising interest rates push prospective homebuyers to take a leap?

Freddie Mac reported Thursday that 30-year fixed-rate mortgages (FRM) averaged 4.35 percent (0.7 point) for the week ending September 9, 2010, up from last week’s average of 4.32 percent.

Fifteen-year FRMs, on the other hand, came in at the record low of 3.83 percent (0.6 point) this week in Freddie Mac’s study, unchanged from last week…

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