Mortgage Rates Move Higher
WASHINGTON – Home loan rates rose across the board this week, according to Freddie Mac.
The average for the benchmark 30-year loan increased to 4.60% this week, from 4.51% last week; while the average for the 15-year mortgage rose to 3.75%, from 3.69%.
ARM rates also climbed higher, with the average for the five-year ARM moving to 3.30%, from 3.22% last week; and the average for the one-year ARM inching up to 3.01%, from 2.97%.
“Mortgage rates followed Treasury yields higher over the holiday week but remain quite affordable by historical standards,” said Frank Nothaft, chief economist for Freddie Mac.