The Home Front

Mortgage Rates Bounce Back Above 5 Percent

By Luke Mullins

Posted: January 23, 2009

Thirty-year fixed mortgage rates bounced back from record low levels this week, but remain historically attractive at 5.12 percent, Freddie Mac said Thursday. Rates had fallen to a record low weekly average of 4.96 percent last week amid lower inflation and Federal Reserve moves to buy up mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac. But even after ticking higher, rates remain very attractive, down sharply from 6.46 percent in late October 2008.

[Check out Mortgage Rates in 2009: 7 Things You Need to Know.]

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The Home Front

The Home Front

Associate Editor Luke Mullins tracks the treacherous housing market and explains how to unload a five-bedroom McMansion or even find that dream home.

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