Tucson home buyers found that fixed-rate mortgages were up last week after news of an improved job outlook report and a national increase in new home sales. Freddie Mac reported that 30-year fixed rate mortgages were averaging 4.46% with an average of 0.5 point. That is more than a full percentage point over the year ago rate of 3.34%. 15-year rates last week average 3.47% with an average of 0.4 point.
But all are still really low by historic standards, but for how long?