McLEAN, Va. – Home loan rates, which have plunged to historic lows in recent weeks, climbed this week, according to Freddie Mac.
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The average for the benchmark 30-year, fixed-rate loan moved up to 4.87% this week, from 4.78% last week; while the average for the 15-year, fixed-rate mortgage rose to 4.54%, from 4.52%.
"Interest rates for 30-year fixed-rate mortgages have averaged below 5% for the last four weeks, which should keep homeowner affordability at record levels," said Frank Nothaft, Freddie Mac's chief economist, in a statement.
ARM rates also moved slightly higher, with the average for the one-year ARM increasing to 4.83%, from 4.75% last week; and the average for the five-year ARM inching up to 4.93%, from 4.92%.
