Fixed mortgage rates move slightly higher- 30-year at 4.16%

A better economic picture sent mortgage interest rates higher this week, with Freddie Mac reporting that a 30-year fixed-rate home loan averaged 4.16%, up from 4.1% last week.

The interest rate for a 15-year fixed mortgage, popular with people refinancing their homes, averaged 3.27%, up from 3.2%.

Freddie Mac polls lenders each Monday through Wednesday about the terms of the loans they are offering to mortgage borrowers with strong credit ratings and 20% down payments or home equity. Borrowers would have paid about 0.75% of the loan amount in lender fees and points to obtain the rates, Freddie said.

(Source: LA Times)