Long-Term Rates Continue toClimb
McLEAN, Va. - (08/12/05) -- Long-term mortgages rates inchedhigher this week, for the fifth week in a row, according to FreddieMac. The average for the 30-year, fixed-rate mortgage moved to5.89%, from 5.82% last week; while the average for the 15-year,fixed-rate loan rose to 5.47%, from 5.38%. ARM rates, closely tiedto the short-term rates being pushed up by the Fed this week atenth time, also increased. The average for the one-year ARM movedup to 4.57%, from 4.47% last week; and the average for thefive-year ARM inching up to 5.40%, from 5.30% last week.