Mortgage rates rose slightly in the week that ended Thursday, with the average rate on 30-year fixed-rate mortgages edging closer to 5%, according to Freddie Mac's weekly survey.
Treasury yields ran up this week as concerns arose in recent days about the amount of government-debt sales and dislocations in the interest rate swaps markets. Mortgage rates typically follow bond yields.
The 30-year fixed-rate mortgage averaged 4.99%, up from last week's 4.96% average and 4.85% a year ago. Rates on 15-year fixed-rate mortgages were 4.34%, up from 4.33% last week but down from 4.58% a year earlier.
To obtain the rates, the mortgages required payment of an average 0.6 point. A point is 1% of the mortgage amount, charged as prepaid interest.