McLEAN, Va. – Long-term mortgage rates moved slightly higher this week for the second week in a row, after reaching record lows, according to Freddie Mac.
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The average for the benchmark 30-year loan inched up to 4.86% this week, from 4.84% last week; while the average for the 15-year mortgage moved to 4.52%, from 4.51%.
Short-term rates continued their descent, with the average for the five-year ARM slipping to 4.82% this week, from 4.90% last week; and the average for the one-year ARM dipping to 4.71%, from 4.78%.
