Industry News

Mortgage rates climb

30-year fixed averages 5.52% in latest Freddie Mac survey

Mortgage rates jumped for the second consecutive week in anticipation of a healthier jobs report tomorrow, according to surveys conducted by mortgage buyer Freddie Mac and Bankrate.com. In Freddie Mac's weekly survey, the 30-year fixed-rate mortgage averaged 5.52 percent, with an average 0.6 point, for the week ended today, up from last week when it averaged 5.4 percent. The average for the 15-year fixed-rate mortgage this week is 4.84 percent, up from last week when it averaged 4.7 percent. Points on both the 30- and 15-year averaged 0.6. One-year Treasury-indexed adjustable-rate mortgages averaged 3.46 percent this week, with an average 0.6 point, up from 3.36 percent last week. "In advance of what is hoped will be a strong jobs report tomorrow, bond yields rose this week and, predictably, so did mortgage rates," said Frank Nothaft, Freddie Mac chief economist. "The economy has been conducive to job gains for several months, but we have yet to see any significant rise in emp...

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