Mortgage rates rose slightly the week that ended Thursday, though the average rate on 30-year fixed-rate mortgages remained under 5% for the third consecutive week, according to Freddie Mac's weekly survey.
After yields on Treasuries rose on a rebound from the multidecade lows, they have fallen a bit, taking mortgage rates along with them. However, Treasury yields have climbed in the last couple of weeks, moving some rates from recent record lows.
The 30-year fixed-rate mortgage averaged 4.92% for the week that ended Thursday, up from the previous week's 4.87% average but down from 6.46% a year earlier.
To obtain the rate, the mortgage required payment of an average 0.7 point. A point is 1% of the mortgage amount, charged as prepaid interest.