According to Freddie Mac’s weekly survey of mortgage rates, again there has been a rise in the home-mortgage rates this week as housing sales continue to pick up.
There has been an increase in the sales for several consecutive months, which provide an increased hope that the housing market may have bottomed. Meanwhile, this week it has been disclosed that a closely watched home-price indicator has shown a rise for the first time in nearly three years.
For the week ended Thursday, the 30-year, fixed-rate mortgage averaged 5.25% , which has been increased from last week’s 5.2% average and down from 6.52% a year ago. While the rates on 15-year fixed-rate mortgages were 4.69%, which has been raised up from 4.68% last week and down from 6.07% a year earlier.
Five-year, Treasury-indexed hybrid adjustable-rate mortgages averaged 4.75%, which has increased from last week’s 4.74% and down from 6.07% a year earlier. While if we look at one-year, Treasury-indexed ARMs then we can see that they were 4.8%, raised from 4.77% last week and down from 5.27% last year.
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