Mortgage Rates - LendingTree Data Points To Another Round Of Increases

LendingTree’s Weekly Mortgage Rate Pulse recently announced that average mortgage rates have risen yet again. The weekly report is a picture in time of the lowest to average mortgage rates on offer by lenders in the LendingTree network.

Rates for a 30-year fixed mortgage rose to 5.17%. The same trend occurred for the 15-year fixed mortgage climbing to 4.51% and the 5/1 adjustable rate mortgage increased to 4.04%. The reporting date was December 22.

The absolute lowest rates within the network were 4.63% on the 30-year fixed, 3.88% on the 15-year fixed, and 3.05 for the 5/1 Adjustable. The overall lowest for the 15-year fixed and the 5/1 Adjustable remained the same as the previous week.

“Even with mortgage rates on the rise, the combination of low home prices and today’s low mortgage rates make owning a home more affordable than ever,” said Nicole Hall, LendingTree home loan shopping expert. “Consumers looking to get into the market in the new year should understand the process and be prepared to lock in their rate once they’ve found the right loan for their needs. Borrowing costs are still extremely affordable compared to historical averages.”