U.S. Mortgage Rates Rise Slightly

0 Shares

WASHINGTON (UPI) — Fixed mortgage rates on long-term loans in the United States rose off record lows in the week ending Thursday, the Federal Home Loan Mortgage Corp. said.

The average 30-year fixed mortgage interest rate rose from 3.36 percent to 3.39 percent with an average 0.7 points, Freddie Mac said.

A year earlier, interest rates for 30-year, fixed-rate loans were at 4.12 percent.

For 15-year loans, interest rates rose from 2.69 percent to 2.7 percent with an average 0.6 points. A year ago, 15-year loan rates averaged 3.37 percent.

Average interest rates for five-year adjustable-rate mortgages rose from 2.72 percent in the week to 2.73 percent. In the same week of 2011, rates for five-year ARM contracts stood at 3.06 percent.

The average interest rates for one-year ARM contracts was 2.59 percent in the week with 0.4 points, up from 2.57 percent in the previous week.

Rates a year ago for one-year ARM contracts averaged 2.9 percent.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.