Mortgage rates edge up slightly

Julie C. Nichols General

USA Today – Kevin McCoy

Average fixed-rate mortgages edged up slightly from last week, applying additional pressure for some already-pinched local real estate markets, Freddie Mac reported Thursday.

Data from the mortgage finance giant’s weekly survey showed 30-year fixed-rate mortgages averaged 4.40% up from 4.32% on March 20. Additionally, 15-year fixed-rate mortgages averaged 3.42%, up from 3.32% last week, the data showed.

"Mortgage rates rose following the uptick on the 10-year Treasury note after comments by the Federal Reserve Board Chair Janet Yellen indicated a possible increase in interest rates as soon as early 2015," said Frank Nothaft, a Freddie Mac vice president and its chief economist.

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