The average rate for a 30-year fixed-rate mortgage rose slightly in Freddie Mac's survey for the week that ended Feb. 3.
The rate was 4.81% and 0.8 of a point, up from 4.8% the previous week but below the 5.01% of a year ago.
The 10-year Treasury yield, which some consider a rough indicator of long-term mortgage rates, climbed more dramatically week to week. It had gone above 3.5% as of press time Thursday morning from a level closer to 3.3% the previous Friday. This could suggest a further climb in long-term rates ahead.
But on average and compared with the previous week, the trend across the full range of long- and short-term rates in Freddie's most recent survey was generally stable to mixed.
The average 15-year fixed mortgage rate was 4.08% and 0.8 of a point, down from 4.09% the week before and from 4.40% a year ago. The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage in the most recent week was 3.69% with 0.7 point, down from 3.7% a week ago and 4.27% a year ago. The average one-year Treasury ARM rate was 3.26%, the same as the previous week but down from 4.22% a year ago.
