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Economic Report: Mortgage rates rise as housing market cracks appear

Bloomberg News/Landov
A ‘For Sale’ sign stands outside a newer home in Park Ridge, Illinois, U.S., Thursday, Nov. 6, 2008. Photographer: Tim Boyle/Bloomberg News

Rates for home loans ticked up, and may be starting to take a toll on buyer demand, according to data out this week.

The 30-year fixed-rate mortgage averaged 4.86% in the Oct. 25 week, up one basis point, mortgage finance provider Freddie Mac said Thursday. The 15-year fixed-rate mortgage averaged 4.29%, up from 4.26%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 4.14%, up four basis points.

Those rates don’t include fees associated with obtaining mortgage loans.

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