The Real Deal Miami

Two-week uptick in mortgage rates could start upward trend, Moody’s Zandi says

December 22, 2009 05:41PM

While mortgage rates have remained low through the end of the year, the recent — albeit moderate — uptick in mortgage rates over the last two weeks could indicate an upward trend in rates through 2010, according to Moody’s. Mark Zandi, chief economist at Moody’s, said that the momentum could make such an impact that 30-year mortgage rates could reach around 6 percent by the end of the 2010. “I don’t think there’s any question rates are headed up,” Zandi said. The third week of December saw 30-year fixed-rate mortgages at 4.94 percent, up from the record low of 4.71 percent seen the week of Dec. 3, according to CNBC.