Mortgage rates rose for the fourth straight week, according to Freddie Mac’s weekly survey of mortgage rates.
The 30-year fixed-rate mortgage crept up to 4.91%, which was higher than last week’s 4.87% but still down from 5.07% a year earlier. Rates on 15-year, fixed-rate mortgages also inched up to 4.13% from 4.1% a week earlier. However, those were also down compared to this time last year, when they were 4.4%.
According to The Wall Street Journal, mortgages rates generally follow U.S. bond yields, which move inversely to Treasury prices.