After dropping for six weeks, the 30-year fixed-rate mortgage moved slightly higher today and now stands a 2.87 percent, according to Freddie Mac. “Following last Friday’s strong jobs report, which revealed broad-based gains in employment and wage growth, mortgage rates are moving higher,” reports Sam Khater, Freddie Mac’s chief economist. “Despite the rise, rates remain very low, given that economic growth is strong and will continue into next year,” he adds.
The 15-year fixed-rate mortgage now averages 2.15 percent, up from last week when it averaged 2.10 percent. A year ago the 15-year fixed-rate mortgage stood at 2.46 percent.