Mortgage interest rates for a traditional 30 year fixed rate mortgage crept up to the highest levels in four years this week. A fixed 30 year mortgage averages 56.54% this week. It has not been this high since the summer of 2002.
This week 15 year fixed rate mortgages are also up; a fixed rate 15 year mortgage averages 6.17%; this is up from 6.14% last week.
A one year adjustable rate mortgage averages 5.63% this week; this is up from 5.63% last week. Five year hybrid adjustable rate mortgages average 6.16 this week. Five year hybrid mortgages averaged 6.13% last week.
Mortgage interest rates are up this week amid inflationary fears and concerns over spiraling energy costs.