The nation’s unemployment rate decreased, and the average mortgage rate increased.  January’s jobs report delivered promising news to investors, prompting rates to climb higher.   The average 30-year fixed rate home loan stands at 4.25%, an increase of 9 basis points from last week.  Just a month ago, rates stood at 3.89%.  The average 15-year mortgage climbed 10 basis points to 3.60%. 

Each week,’s Rate Trend Index polls mortgage lenders to predict where rates are headed. The vast majority of industry experts predict that rates will continue to climb, and only 7% of lenders believe that rates will go down in the next week.  If you’re in the process of purchasing a home, now may be a good time to lock in your rate!  Be sure to talk with your lender for details and individualized assistance.