Mortgage Rates Edge Above 5%

This rise does not surprise me. What surprises me is that interest rates remain so low with the U.S. dollar so weak, and U.S. deficits so high.

The LAT says:

The Primary Mortgage Market Survey from the government-controlled mortgage company assumed that borrowers owned a 20% stake in the house, had good credit and paid 0.7% of the loan amount in upfront points and fees to the lender. Many people pay additional points to lower their rates.

The 15-year fixed mortgage, which is a popular option for homeowners refinancing to pay off their loans faster, averaged 4.40%, also with 0.7% in points and fees. That was up slightly from 4.39% for the week ending Jan. 28.

The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 4.27%, with an average 0.6 point.