The Real Deal Miami

Mortgage rates rise

April 10, 2009 02:27PM

Fixed mortgage rates in the U.S. rose last week, after a four-week
decline in rates. The average rate for a 30-year mortgage hit 4.87
percent, up from 4.78 percent the previous week. The latter rate was
the lowest reached since records were first kept in 1971. The Federal
Reserve’s decision to purchase mortgage-backed bonds and treasuries had
kept mortgage rates low.