Releases Mortgage Rates Update - How a Week of Market Reports Affected Interest Rates

Share Article releases latest weekly analysis of mortgage rates covering the reasons for the up and down interest rates, where current rates are at and which market reports are likely to have an effect on mortgage rates in the week to come.

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The weekly mortgage rate report found that mortgage interest rates rose last week despite the Fed's announcement of long term plans to keep base interest rates at record. However, since that climb rates have again fallen back down to record lows. The up and down movement has been a product of investor confidence that the U.S. economy is growing stronger and government actions to help the housing market. This back and forth tug of war in interest rates is right in line with's forecast last week.

Current interest rates are:

         4.12% - average rate for a 30-year fixed rate mortgage

         3.34% - average rate for a 15-year fixed rate mortgage

In the last week, 30-year fixed-rate mortgages fell by 12 basis points while the 15-year fixed-rate mortgage dropped 11 basis points. This time last year the 30-year fixed was at 5.02%.

The Weekly Mortgage Rates Update identifies the five reports coming out this week that could impact interest rates and how.

  •     Monday - December Personal Income and Outlays Report
  •     Tuesday - Consumer Confidence Report
  •     Thursday - Initial Jobless Claims Report and 4th Quarter Productivity Report
  •     Friday - Jobs Report is forecasting that there will likely be more steady movement over the next week with the possibility of a slight increase. There aren't any big announcements being made by the government as was the case the last two weeks and the positive outcome in the market reports this week will probably keep investor confidence higher in the U.S. Especially since Europe is still struggling over their own economic issues.

To find more information on mortgage rates, new home listings and local real estate agents, please visit:

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