McLEAN, Va. – Both long-term and short-term mortgage rates rose again this week, to their highest levels since last September, according to Freddie Mac.
“Fixed-rate mortgage rates continued to climb this week to the highest point in nearly nine months following the release of May's consumer and producer price indexes, both of which showed stronger levels of inflation,” said Frank Nothaft, chef economist for Freddie Mac.
The average for the 30-year, fixed-rate loan jumped to 6.42% this week, from 6.32% last week; while the average for the 15-year, fixed-rate mortgage climbed to 6.02%, from 5.93%.
ARM rates also moved higher, as the average for the five-year ARM hit 5.89%, from 5.70% last week; while the average for the one-year ARM moved to 5.19%, from 5.09%.
