According to a survey that has been released on Thursday by home funding company Freddie Mac , in the latest week, there has been a rise of 0.07 percentage point in the interest rates on U.S. 30-year fixed-rate mortgages.
For the week ending Aug. 13, interest rates on the 30-year fixed-rate mortgage averaged 5.29%, with an average 0.7 point, which has increased from the previous week’s 5.22%.
These mortgage rate have also been significantly higher than the record low of 4.78% that has been set in the week ending April 2. The Primary Mortgage Market Survey has been started by Freddie Mac in 1971.
It has been said by Frank Nothaft, Freddie Mac vice president and chief economist in his statement that there has been a little rise in long-term fixed-rate mortgage rates over the past week while the initial rates on adjustable-rate mortgages (ARMs) have also changed slightly.
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