Mortgage rates edging up

2/1/2006

The rise in yields, which lenders use to set mortgage rates, has begun to push rates up slightly.

At 4 p.m. EST, average mortgage rates (zero discount points) based on rates collected nationwide were:

The 30-year conventional fixed-rate mortgage was at 5.975 percent, up from 5.951 percent on Tuesday.

The 15-year conventional fixed-rate mortgage was at 5.511 percent, up from 5.498 percent on Tuesday.

Today's substantial increase in Treasury yields will likely force mortgage lenders to raise rates on many popular programs.