From Florida Realtors
Average U.S. rates on fixed mortgages rose slightly this week but remained near historically low levels.
Mortgage buyer Freddie Mac said this month the average rate for a 30-year loan ticked up to 4.41 percent from 4.40 percent last week. The average for a 15-year mortgage increased to 3.47 percent from 3.42 percent.
Mortgage rates have risen about a full percentage point since hitting record lows about a year ago.
A report released this month by real estate data provider CoreLogic showed U.S. home prices rose in February from a year earlier at a solid pace, suggesting that a tight supply of available homes is boosting prices despite slowing sales.
Most economists expect home sales to rebound as the weather improves and the spring buying season begins.
The increase in mortgage rates over the year was driven by speculation that the Federal Reserve would reduce its $85 billion-a-month bond purchases, which have helped keep long-term interest rates low.
To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for a 30-year mortgage rose to 0.7 point from 0.6 point. The fee for a 15-year loan was unchanged at 0.6 point.
The average rate on a one-year adjustable-rate mortgage edged up to 2.45 percent from 2.44 percent. The average fee held steady at 0.4 point.
The average rate on a five-year adjustable mortgage increased to 3.12 percent from 3.10 percent. The fee remained at 0.5 point.