Rates for a 30-year fixed mortgage tend to track the 10-year Treasury rate very closely. The national average 30-year fixed mortgage rate has risen from 3.52% to 4.1% in the last five weeks, according to Bankrate.com.
The recent increase adds $100 onto the monthly mortgage payment for the typical, $245,000 house, according to Tchir. Although rates remain very low based on historical standards, he thinks this is significant headwind for potential buyers who have been on the fence. And he counts a lot of people in that category given the lack of growth in high paying jobs during the economic recovery, writes Yahoo! Finance.
