McLEAN, Va. – Long-term mortgage rates slightly this week from their decades-lows, according to Freddie Mac.
Processing Content
The average for the 30-year loan rose to 4.84%, from a record low of 4.78% last week; while the average for the 15-year mortgage tipped up to 4.51%, from 4.48%.
Short-term rates also moved higher, as the average for the five-year ARM jumped to 4.90%, form 4.80%; while the average for the one-year ARM inched up to 4.78%, from 4.77%.
"Mortgage rates rose slightly this week amid positive economic news that the economy may be approaching the bottom of the recession," said Frank Nothaft, chief economist for Freddie Mac
