Mortgage Rates Rise

Industry data released Thursday show that interest rates for 30-year fixed mortgages moved up this week, while adjustable-rate mortgages dipped lower. Freddie Mac puts the 30-year fixed-rate mortgage at an average of 4.74 percent. The 15-year rate, on the other hand, headed down with adjustable rates. Analysts say the gap between fixed and adjustable rates has grown significantly in the last six months, making some of the hybrid adjustable rate products a compelling option for certain borrowers.

http://www.dsnews.com/articles/reports-30-year-fixed-rates-edge-higher-2011-01-20