Mortgage rates rise, Freddie Mac says, but jumbo loans are cheap

http://www.latimes.com/business/money/la-fi-mo-freddie-mac-mortgage-rates-20130905,0,1603884.story

Mortgage rates rose early this week, Freddie Mac said in its latest report, with lenders offering a 30-year fixed home loan to solid borrowers at an average of 4.57% -- up from 4.51% last week and a full percentage point higher than a year ago. 

Rates for 15-year fixed mortgages and adjustable loans also edged higher, a trend Freddie Mac chief economist Frank Nothaft attributed to a healthier-looking economy. He pointed to stronger growth in the gross domestic product and other indicators.

Additional positive economic reports Thursday drove the yield on the 10-year Treasury note -- a benchmark for fixed mortgage rates -- to nearly 3%. That was its highest level since July 2011, and home lending rates were volatile but continuing to move higher, mortgage professionals said.