Mortgage Rates Move Higher

Register now

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.

 

For reprint and licensing requests for this article, click here.
Lending
MORE FROM AMERICAN BANKER