The benchmark 30 year fixed rate mortgage rose 1 basis point from 5.71% to 5.72% according to a national survey of mortgage lenders.

Much of the refinancing activity of recent weeks took place a few weeks ago, and rates have been on the rise since. Late movers however continue to apply to refinance, although many float their rate in anticipation of rates dropping further as more recession data emerges.

Published on February 28, 2008