Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

Improvement in the job market and consumer spending helped pushed mortgage rates higher this week, according to surveys conducted by Freddie Mac and Bankrate.com. In Freddie Mac's survey, the 30-year fixed-rate mortgage climbed to an average 6.73 percent from 6.63 percent a week ago, and the 15-year fixed gained from 6.3 percent to 6.39 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. Adjustable-rate mortgage (ARM) costs were mostly higher, with the five-year Treasury-indexed hybrid ARM growing to 6.35 percent from 6.29 percent last week and the one-year ARM holding steady at 5.71 percent. Points on these loans averaged 0.5. Frank Nothaft, Freddie Mac vice president and chief economist...