Mortgage rates higher amid investors' concerns

Mortgage rates moved higher this past week as worries about inflation and potential moves by the Federal Reserve unsettled investors. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to 3% with an average 0.6 point. (Points are fees paid to a lender equal to 1% of the loan amount. They are in addition to the interest rate.) It was 2.94% a week ago and 3.24% a year ago.