Those 30-year fixed home loans that have rates starting with a "3" are getting harder to find.
Bankrate's running survey of average mortgage rates has edged into the 4%-plus range over the past week and was at 4.05% on Tuesday. It had spent more than three months in the once unimaginable range below 4%, Bankrate senior analyst Greg McBride said.
"Last Wednesday, March 13, was the first time with a 4-handle since Dec. 2, 2011," he said in an email.
Mortgage rates tend to follow the yield on the 10-year Treasury note, which after seesawing in the 2% range in February has jumped from 1.94% on March 6 to 2.37% on Tuesday.
Multiple outfits track mortgage rates, each with its own formula and consequently its own average for a "typical" loan. But they have all moved higher of late, including Freddie Mac's widely watched weekly survey, which comes out each Thursday.
