Freddie Mac: Mortgage rates up this week

Long-term mortgage rates moved higher this week on brighter economic news, Freddie Mac reported today.

The average rate on 30-year fixed loans edged up from 5.85 percent to 5.88 percent, and the 15-year average climbed from 5.34 percent to 5.42 percent. By contrast, a year ago the 30-year averaged 6.17 percent and the 15-year averaged 5.87 percent.

To qualify for these rates, borrowers must pay points, or fees that lenders charge for loan processing expressed as a percent of the loan, which this week averaged 0.5 on the 30- and 15-year loans.

more...

To continue reading sign in to your Premium Member account.

Premium Members have full access to all news archives.

Buy Now Purchase 1-year Premium Membership - $149.95

OR

Buy Now Purchase Monthly Premium Membership - $19.95

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.