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Real Estate

Fixed-rate loans tick up to eight-week high

Freddie Mac reported that fixed-mortgage rates moved higher this week following December's employment report.

The 30-year fixed mortgage rate averaged 3.40 percent, its highest reading in eight weeks. The all-time record low for the average 30-year fixed was 3.31 percent set November 21, 2012. Fifteen-year fixed-rate loans averaged 2.66 percent, up from last week's 2.64.

"Fixed mortgage rates increased slightly following a positive employment report for December," said Frank Nothaft," vice president and chief economist, Freddie Mac. "The economy added 155,000 jobs, above the consensus market forecast, and November's job growth was revised upward by another 24,000 workers. This helped keep the unemployment rate steady at 7.8 percent, the lowest since December 2008."

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