Freddie Mac’s weekly survey of the mortgage market showed fixed rates increasing after stronger-than-expected employment reports.
Here’s a roundup of rates this week:
· 30-year fixed rates: averaged 3.59 percent with an average 0.6 point for the week ending August 9, 2012, up from last week when it averaged 3.55 percent. Last year at this time, the 30-year FRM averaged 4.32 percent.
· 15-year fixed rates: averaged 2.84 percent with an average 0.6 point, up from last week when it averaged 2.83 percent.A year ago at this time, the 15-year FRM averaged 3.50 percent.
· 5-year ARMs: averaged 2.77 percent this week with an average 0.6 point, up from last week when it averaged 2.75 percent. A year ago, the 5-year ARM averaged 3.13 percent.
Source: “Fixed Mortgage Rates Move Higher for Second Consecutive Week,” Freddie Mac (Aug. 9, 2010)