The Real Deal Miami

Mortgage rates rise from record lows

December 29, 2011 01:14PM

The average rate for a 30-year fixed loan increased this week from the
lowest number on record, up to 3.95 percent, according to Bloomberg. The
3.91 percent rate last week was the lowest since 1971, when records
were first kept, according to Freddie Mac. “Low interest rates are a
necessary condition to help the housing market but they aren’t
sufficient,” said Charles Lieberman, chief investment officer at
Advisors Capital Management in New Jersey. “We need some other things to
happen to help housing. The most important of those is for job growth
to continue at a stronger pace.” [Bloomberg]