U.S. mortgage rates notch up after major drop

U.S. mortgage rates rose slightly, just a week after their biggest one-week drop in a decade, according to Freddie Mac.

The 30-year fixed mortgage averaged 4.08 percent for the week ending April 4, up from 4.06 percent the previous week. A year ago, mortgage rates stood at 4.4 percent.

Low mortgage rates help propel U.S. home sales and the refinance market.

“Purchase mortgage application demand saw the second highest weekly increase over the last year and thanks to a spike in refinancing activity,…

from Fort Lauderdale Real Estate News & Residential Real Estate News – Residential Real Estate News Headlines | Bizjournals.com & Banking & Financial News – Banking & Financial News Headlines | Bizjournals.com http://feeds.bizjournals.com/~r/industry_21/~3/evE6OqzC9v8/u-s-mortgage-rates-notch-up-after-major-drop.html

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