Mortgage Rates Bounce Back Above 5 Percent

Rates are now off their record lows, but remain attractive.

By SHARE

Thirty-year fixed mortgage rates bounced back from record low levels this week, but remain historically attractive at 5.12 percent, Freddie Mac said Thursday. Rates had fallen to a record low weekly average of 4.96 percent last week amid lower inflation and Federal Reserve moves to buy up mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac. But even after ticking higher, rates remain very attractive, down sharply from 6.46 percent in late October 2008.

[Check out Mortgage Rates in 2009: 7 Things You Need to Know.]