McLEAN, Va. - (04/05/05) -- Long-term mortgage rates continuedto head higher last week, for the seventh week in a row, accordingto Freddie Mac. The average for the benchmark 30-year, fixed-rateloan inched up from 6.01% to 6.04% last week, its highest in eightmonths, while the average for the 15-year, fixed-rate mortgagemoved to 5.58%, from 5.56% the prior week. ARM rates also continuedto move higher, with the average for the five-year ARM climbing to5.43% last week, from 5.35% the week before; and the average forthe one-year ARM hitting 4.33%, up from 4.24%.
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