WASHINGTON Mortgage rates went back up this week, after declining the previous two weeks following a six-week fall, according to Freddie Mac.
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The average for the 30-year, fixed-rate loan increased to 4.39% this week from 4.31% last week; while the average for the 15-year mortgage moved to 3.43% from 3.39%.
ARM rates were mixed, with the average for the five-year ARM rising to 3.18% from 3.16%; and the average for the one-year ARM slipping to 2.64% from 2.65%.
“Mortgage rates rose slightly leading up to the Federal Reserve’s monetary policy statement this week,” said Frank Nothaft, chief economist for Freddie Mac. “The Fed indicated that the economy expanded at a modest pace, but the unemployment rate remains elevated.”
