Mortgage Rates Inch Up

Fixed rates on home loans edged higher this week after three weeks of declines, Freddie Mac said in its latest survey.

Lenders told the big mortgage finance company that they were offering 30-year fixed rate mortgages at an average of 4.21% to well-qualified borrowers who paid 0.8% of the loan amount in upfront lender fees and discount points.

That was up from 4.19% the previous week, which Freddie said was the lowest long-term mortgage rate since 1951. A year ago, the average rate in the survey was an even 5%.