Mortgage interest rates rising - KWWL - Eastern Iowa Breaking News, Weather, Closings

Mortgage interest rates rising

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WASHINGTON (AP) -- Rates on fixed mortgages edged up again this week after hitting their lowest level in decades last month.

Freddie Mac says the average rate for 30-year fixed loans rose to 4.46 percent from 4.40 percent last week.  Three weeks ago, the rate hit 4.17 percent, the lowest level on records dating back to 1971.  The 15-year loan also rose, to 3.81 percent from 3.77 percent.  It hit its lowest point since the survey began in 1991 a month ago, when rates fell to 3.57 percent.

Mortgage rates are rising because a string of positive economic data drew investors away from the safety of Treasury bonds.  That pushed the yield on Treasury up and mortgage rates tend to track those yields.

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