Mortgage Rates Increase

According to Freddie Mac, mortgage rates have increased. A recent survey reported that mortgage lenders have been offering 30-year fixed-rate loans at an average of approximately 3.51% showing signs of a more stable economy. Consumer retail sales grew in April when many experts had forecasted a decline in retail sales and  mortgage delinquencies continued to fall. Additionally, 15-year fixed-rate mortgages averaged 2.69% this week and according to a study from Mortgage Grader brokerage, closed home loans used for purchase only jumped 15% from January 2013. More here

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