ST LOUIS, MO (STL.NEWS) This morning, Freddie Mac reported weekly 30 year mortgage rates ticked slightly up for the most recent week. Reporting 30 mortgage rate of 4.41 percent, this slight move up is still under levels from last year at this time.
As seen in the graphic below provided by wichitaksrealty news, although rates ticked up slighlty, interest rates are still not showing signs of advancing at an accelerated clip. Also, the 15 year mortgage reported slightly up from the previous week, as did the 5/1 adjustable ARM.
It remains to be seen if these rates will spark spring buyers into action. The typically busy spring buying season is just around the corner. Consumers may still be facing a restricted inventory supply. If you will be in the market for a new home, it may be wise to keep an eye on active listing totals and local sales numbers to help gauge how your housing market is digesting supply and demand.