Fixed-rate mortgages rose this week across the board, increasing borrowing costs for home buyers, Freddie Mac reports in its weekly mortgage market survey.
The mortgage giant reports the following national averages with mortgage rates for the past week:
- 30-year fixed-rate mortgages: averaged 4.33 percent, with an average 0.6 point, rising from last week’s 4.27 percent average. Last year at this time, 30-year rates averaged 3.40 percent.
- 15-year fixed-rate mortgages: averaged 3.39 percent, with an average 0.6 point, increasing from last week’s 3.33 percent average. A year ago at this time, 15-year rates averaged 2.61 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 3.03 percent, with an average 0.5 point, holding the same average as last week. A year ago, 5-year ARMs averaged 2.58 percent.
- 1-year ARMs: averaged 2.44 percent, with an average 0.5 point, holding the same as last week. A year ago, 1-year ARMs averaged 2.62 percent.
Source: Freddie Mac