McLEAN, Va. – Mortgage rates climbed to their highest since December this week, fueled by stronger than expected economic indicators, according to Freddie Mac.
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The average for the 30-year, fixed-rate mortgage rose to 5.25% this week, from 5.10% last week; while the average for the 15-year, fixed-rate loan climbed to 4.92%, from 4.80%.
ARM rates were almost flat, with the average for the one-year ARM inching up to 4.92%, from 4.90%; and the average for the five-year ARM dipping to 5.26%, from 5.27%.
"Interest rates for fixed-rate mortgages rose this week amid economic reports that were somewhat better than consensus forecasts had anticipated," said Frank Nothaft, chief economist for Freddie Mac.
