It was good while it lasted.
Rates for 30-year fixed-rate mortgages rose after sitting at record lows for four weeks, according to CNN Money. The rates hit all-time lows because of signs that the housing market is showing improvement.
Freddie Mac reported that rates rose to an average of 3.95 percent for 30-year fixed-rate mortgages, up from 3.87 percent last week. The rate for 15-year fixed loans rose to 3.19 percent compared to 3.16, which held for two weeks in a row.
Still, the rates are lower than last year.
Mortgages rates have been on a slow decline since 2011. The average rate for a 30-year mortgage was 4.95 percent last year. The 15-year average was 4.22 percent.
Other recent reports also show that fewer borrowers are seriously delinquent on their loans.
EMAIL: [email protected]