McLEAN, Va. – Mortgage rates moved slightly higher this week, as Treasury yields also rose, according to Freddie Mac.
The average for the 30-year mortgage rose to 5.29%, from 5.22% last week; while the average for the 15-year, fixed-rate loan increased to 4.68%, from 4.63%.
ARM rates were mixed, with the average for the five-year ARM inching up to 4.75%, from 4.73%; while the average for the one-year ARM dipped to 4.72%, from 4.78% last week.
"Better-than-expected economic reports helped to keep mortgage rates low this week," said Frank Nothaft, chief economist for Freddie Mac. "The economy slowed by an annual rate of 1% in the second quarter, which was more positive than market forecasts. Homebuyer demand improved as well, aided by high levels of housing affordability."
