According to a regular report by the Seattle Times, this week’s mortgage rates for the Seattle area have risen significantly since March, reversing the downward trend seen from February to March (see Seattle Times: March Mortgage Rates Down from February)

Average rates for a 30-year fixed rate loan hit 5.47 percent, while rates for a 15-year loan reached 4.87 percent.

In spite of this increase, rates like these are still low enough to benefit buyers. What the upward trend shows us is that they won’t be for long.

With prices rising this year also (see King County Home Prices Rise for First Time in 2 Years, Mortgage Rates Highest in 8 Months), buyers looking to find their new home at an affordable cost might not want to wait much longer.

Read the report on the Seattle Times website.

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