Well, we knew mortgage rates couldn’t keep going down forever. Freddie Mack said the rates on 30-year fixed rose to 4.4% from 4. 39%. Two weeks ago they hit the lowest rates since 1971. 15-year loans rose also to 3.77% from 3.76% – up from two weeks ago when they were at 3.57%.
Market watcher Don Rissmiller told the Washington Post the rate rise isn’t unexpected.
“If we’re talking about individual variables, the Fed’s programs can certainly have market effects,” Don Rissmiller, chief economist at Strategas Research Partners in New York, said in a telephone interview. “I wouldn’t get too excited about a rise from a very low level, because rates are rising from a level they weren’t supposed to get down to.”