Mortgage rates hit two-year high

30 year mortgage rates 082213

The average weekly rate for a 30-year fixed-rate mortgage jumped to a two-year high, Freddie Mac said on Thursday.

The rate is now 4.58%, up from 4.4% the prior week.

That is the highest level for the 30-year in more thantwo years, since it hit 4.6% on July 7, 2011, according to Freddie Mac spokesman Chad Wandler.

Related: How much house can you afford?

He attributed the increase to an improving housing market. He also cited investor concerns about when the Federal Reserve will taper its government bond-buying program, which could affect interest rates.

Related: Calculate your monthly mortgage fee

The 30-year rate hit an all-time low of 3.31% on Nov. 21, 2012. Since then, the 30-year has bounced around, sinking back down to 3.35% on May 2, 2013. The runup to the current two-year high has all occurred in the last three months.(Click here to shop for a mortgage) To top of page

About - Tom Ramsey, local Realtor

Local Portland Realtor with 10 years experience specializing in residential sales and investment property. Tom Ramsey Oregon Real Estate Principal Broker John L Scott Real Estate Phone: 503-481-0501
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