‘Mortgage Rates Climb’ on Strengthening Economy

Fixed-rate mortgages were on the rise this week, following a 25 percent monthly jump in new-home sales and an improving job outlook report, Freddie Mac reports in its weekly mortgage market survey.

Freddie Mac reports the following national averages for the week ending Dec. 5:

  • 30-year fixed-rate mortgages: averaged 4.46 percent, with an average 0.5 point, rising from last week’s 4.29 percent average. Last year at this time, 30-year rates averaged more than a full percentage point lower at 3.34 percent.
  • 15-year fixed-rate mortgages: averaged 3.47, with an average 0.4 point, rising from last week’s 3.30 percent average. A year ago, 15-year rates averaged 2.67 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.99 percent, with an average 0.4 point, jumping from last week’s 2.94 percent average. Last year at this time, 5-year ARMs averaged 2.69 percent.

Source: Freddie Mac