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by CareyBot

Long-term mortgage rates rose steadily this week to highs not seen since October on news that the economy grew better than expected in the fourth quarter, according to surveys conducted by Freddie Mac and Bankrate.com. In Freddie Mac's survey, the 30-year fixed-rate mortgage this week jumped to an average 6.34 percent from last week's 6.25 percent, while the 15-year fixed-rate mortgage rose from 5.98 percent to 6.06 percent. Points, which are fees lenders charge for loan processing expressed as a percent of the loan, averaged 0.4 on the 30- and 15-year loans. Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.04 percent this week, with an average 0.6 point, up from 6 percent last week. One-year Treasury-indexed ARMs averaged 5.54 percent, with an average 0.7 ...