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Personal Finance > Your Home
Mortgage rates edge up
December 17, 1999: 11:45 a.m. ET

Rates higher as markets anticipate move by Fed, Freddie Mac says
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NEW YORK (CNNfn) - Mortgage rates were up slightly this week in anticipation of the upcoming Federal Reserve meeting, Freddie Mac reported Thursday.
        The rate on a 30-year, fixed-rate mortgage edged up to 7.86 percent for the week ending Dec. 17 from 7.84 percent the week before. A year ago, the 30-year fixed rate was pegged at 6.69 percent.
        The average for the 15-year fixed-rate mortgage also moved a bit higher, to 7.47 percent from 7.45 percent last week. The rate was 6.35 percent at this time last year.
        The average one-year adjustable rate mortgage rose slightly as well, to 6.49 percent from 6.45 percent a week ago and 5.55 percent a year ago.
        (Click here to see a breakdown of average mortgage rates by U.S. region.)
    "Markets are a bit edgy in anticipation of possible action by the Federal Reserve when it meets next week, and this is pushing interest rates higher,” said Robert Van Order. Chief economist for Freddie Mac. "However, since we aren’t seeing any real signs of inflation, we tend to feel worries of a rate hike are probably overblown.” Back to top

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