Averages on fixed mortgage rates inched up again this week, amid solid housing data on new home sales and strong home price appreciation, Freddie Mac reports in its weekly mortgage market survey. Despite this week’s uptick, fixed-rate mortgage continue to hover near May 2013 lows.
Freddie Mac reports the following national averages with mortgage rates for the week ending Feb. 26:
- 30-year fixed-rate mortgages: averaged 3.80 percent, with an average 0.6 point, rising from last week’s 3.76 percent average. A year ago, 30-year rates averaged 4.37 percent.
- 15-year fixed-rate mortgages: averaged 3.07 percent, with an average 0.6 point, rising from last week’s 3.05 percent average. Last year at this time, 15-year rates averaged 3.39 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 2.99 percent, with an average 0.5 point, rising from last week’s 2.97 percent average. Last year at this time, 5-year ARMs averaged 3.05 percent.
- 1-year ARMs: averaged 2.44 percent, with an average 0.4 point, dropping from last week’s 2.45 percent average. A year ago, 1-year ARMs averaged 2.52 percent.
Source: Freddie Mac