WASHINGTON Long-term mortgage rates followed government bonds higher this week, with the average rate on a 30-year fixed-rate mortgage jumping to a one-year high, according to Freddie Mac.
The average for the 30-year, fixed-rate loan rose to 3.81% this week, from 3.59% last week; while the average for the 15-year mortgage climbed to 2.98%, from 2.77%.
ARM rates were mixed, with the average for the five-year ARM moving up to 2.66%, from 2.63%; and the average for the one-year ARM dipping slightly to 2.54%, from 2.55% last week.
“Fixed mortgage rates followed long-term government bond yields higher following a growing market sentiment that the Federal Reserve may lessen its accommodative policy stance,” said Frank Nothaft, chief economist for Freddie Mac.
