Zillow reported that the 30-year mortgage rates have risen from 4.58 percent three weeks ago to 4.81 percent this week. 

Colorado mortgage rates are 7 basis points higher than the national average of 4.74% and have risen 8 percent from last week's Colorado average rate of 4.73%.

The 15 year fixed mortgage rate was 3.98 percent, up from 3.86 percent.

Inflation may be the reason, says Matthew Keegan of SayEducate. "Although the signs may not yet be obvious, inflation is beginning to rear its ugly head, affecting the price of commodities, food, fuel and a host of other business and consumer products. When inflation becomes evident, changes in interest rates begin to show up, something home buyers and refinancing consumers should keep in mind when shopping for a mortgage or loan."

Ben Bernanke, Federal Reserve Chairman, will hold his first-ever press conference on April 27^th, 2011 to update the public on policy decisions.  If he changes the quantitative easing past the June deadline, the stock market is expected to drop.

Get mortgage rates at Zillow.com

Posted in Buyer Resources, Real Estate Market Conditions, Headlines

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