CNNMoney.com
Companies Economy International Corrections Pre-market Trading After-hours Trading Winners/Losers/Actives Bonds Currencies Commodities World Markets Money Magazine Real Estate Taxes Jobs Ask the Expert Money 101 Autos Mutual Funds The Help Desk Loan Center Best Places to Live Ask the Expert Ultimate Guide to Retirement Retirement Calculators Rules of Retirement Best Funds Best Places to Retire Fortune Brainstorm Tech Apple 2.0 Blog Big Tech Blog Sectors and Stocks Tech Talk Resource Guide Small Business Makeovers Questions & Answers Small Business Video 100 Best Places to Launch FSB 100 Fortune Small Business Fortune 500 Brainstorm Tech Investing Management C-Suite Rankings Main Create Portfolio Edit Portfolio Create Alerts Edit Alerts
PARTNER
CENTER
Mortgage rates leap higher
Declines in worker productivity and rising labor costs push rates on 30-year loan to six-week high.

NEW YORK (CNNMoney.com) - Mortgage rates jumped last week, pushed higher by signs of rising inflation, lifting rates on the 30-year loan to six-week highs.

The average rate for 30-year fixed-rate mortgages rose to 6.23 percent from 6.12 percent in the prior week, a Freddie Mac survey said.

Latest home prices

In the year-ago period, the 30-year mortgage averaged 5.63 percent.

The average rate on 15-year fixed-rate mortgages rose to 5.81 percent, up from last week's 5.70 percent. A year ago, the loan averaged 5.14 percent.

Five-year adjustable-rate mortgages averaged 5.87 percent, up from 5.75 percent the previous week. In the year-ago period, the five-year averaged 5.00 percent.

One-year adjustable-rate mortgages averaged 5.33 percent, up from 5.20 percent the week prior. At this time last year, the one-year loan averaged 4.23 percent.

"Declines in worker productivity, coupled with accelerating labor costs, increase the threat of inflation down the road," said Frank Nothaft, Freddie Mac vice president and chief economist. "Still, to keep things in perspective, mortgage rates are currently only about one-half a percentage point higher than they were at this time last year."

____________________________

Real Estate: Buy, sell, hold?

Blog if you love real estate Top of page

YOUR E-MAIL ALERTS
Follow the news that matters to you. Create your own alert to be notified on topics you're interested in.

Or, visit Popular Alerts for suggestions.
Manage alerts | What is this?
© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.