Mortgages rates rose slightly from their lowest level in decades, inching up to a national average of 4.23 percent this week.
Freddie Mac today released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 4.23 percent with an average 0.8 point for the week ending October 28, 2010, up from last week when it averaged 4.21 percent. Last year at this time, the 30-year FRM averaged 5.03 percent.
Mixed economic data left mortgage rates little changed this week. Consumer confidence increased slightly in October, according to The Conference Board, but still remains at low levels. Historically low rates are supporting home sales.
Primary Mortgage Market Survey [Freddie Mac]