Industry News

Freddie Mac: Long-term mortgage rates up this week

Economist cites 'stronger-than-expected inflation reports'
Published on Dec 20, 2007

The interest rates for 15- and 30-year fixed-rate mortgages rose in the week ending Dec. 20, according to a weekly survey by Freddie Mac. The Primary Mortgage Market Survey revealed that the rate for a 30-year fixed-rate mortgage averaged 6.14 percent with an average 0.4 point for the week, up from an average 6.11 percent in the previous week. The average rate is up from 6.13 percent for the same week last year. Meanwhile, the average rate for a 15-year fixed-rate mortgage was 5.79 percent with an average 0.4 percent, according to the survey, compared with 5.78 percent in the prior week. The rate averaged 5.89 percent in the same week last year, Freddie Mac reported. Five-year Treasury-indexed hybrid adjustable-rate mortgages averages 5.9 percent for the week ending Dec. 20, with an average 0.5 point, which is up 1 basis point from an average 5.89 percent last week. For the same week last year, the average rate for a 5-year ARM was 5.96 percent. The average rate for 1-year Tr...

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