Inflation Fears Push Up Mortgage Rates

By:: MortgageLoan.com | April 25, 2008

Rates on 30-year mortgages topped 6 percent for the first time in six weeks as financial markets grew more worried about rising inflation pressures.

Freddie Mac reported on Thursday that the 30-year fixed-rate mortgages averaged 6.03 percent for the week ending April 24, up 15 basis points from one week ago, when rates averaged 5.88 percent. Despite the jump, rates are still below year-ago levels.

"Average rates on mortgages increased across the board this last week as the most recent economic data raised inflationary concerns in the capital markets," said, Frank Nothaft, Freddie Mac's chief economist.

A year ago, 30-year mortgage rates averaged 6.16 percent, 15-year mortgages 5.87 percent and the one-year ARM 5.43 percent. The 5/1 ARM averaged 5.88 percent.

Start here to compare mortgage rates from top lenders in our network

Call For Rates

800-419-1494

Speak to a lender now.

We will match calls to our toll free number with our network of lenders.

See Today's Rates

National Rates

Loan Type	Today	+/-
30 yr fixed	3.80
15 yr fixed	3.10
5/1 ARM	2.73

Rates may contain points

Compare Rates »

Browse Mortgage Rates

Featured Guides

Browse our comprehensive guides to popular topics related to mortgage and personal finance.

Mortgage Calculators

Mortgage Loan Directory and Information, Inc or Mortgageloan.com does not offer loans or mortgages. Mortgageloan.com is not a lender or a mortgage broker. Mortgageloan.com is a website that provides information about mortgages and loans and does not offer loans or mortgages directly or indirectly through representatives or agents. We do not engage in direct marketing by phone or email towards consumers. Contact our support if you are suspicious of any fraudulent activities or if you have any questions.

Mortgageloan.com is a news and information service providing editorial content and directory information in the field of mortgages and loans. Mortgageloan.com is not responsible for the accuracy of information or responsible for the accuracy of the rates, APR or loan information posted by brokers, lenders or advertisers.