Mortgage rates tick up; still near record lows

WASHINGTON Average rates on U.S. fixed mortgages rose this week but remained near record lows, a trend that is leading more Americans to buy homes or refinance their loans.

Mortgage buyer Freddie Mac says the average rate on a 30-year loan increased to 3.37 percent from 3.32 percent last week. That's just above the 3.31 percent rate of a month ago, the lowest on records dating to 1971.

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The average on the 15-year fixed mortgage dipped to 2.65 percent from 2.66 percent last week. The record low is 2.63 percent.

Low rates have spurred home sales and helped spark a modest housing recovery. Sales of previously occupied homes jumped to a three-year high last month.

[Ingazi]

people tend to take out a mortgage, then forget about it. The monthly payments go out from their accounts every month, but they probably couldn't tell you what the interest rate was if you asked! This is slack financial policy - it is easy to make sure you always have the best mortgage rate, and therefore pay the least interest.

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[joesapper]

Told ya , and they all said no insterest hikes , well they were wrong or spinning the facts , and spinning is the answer .

A week before Christmas and crunch , well the future is only going to prove the higher rates are coming . Do you think the big money is going to lose in tax hikes and capital gains hikes coming across the broad , so of course the big money is going to make up for the loss on the other end , and folks that is called higher interest rates , so if Pres Obama wants to tax the crap out of everyone with the cliff rushing at the USA , so no spending cuts in the White House scrumble , the humble big money will push there own plan of leadership through as folks scream about rate hikes while the big money secures their losses on the gains in higher interest rates . STEP 1 , .......... This is just my view of course .