Industry News

Real estate rates on the rise

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Long-term mortgage rates pushed higher this week, reversing a six-week decline, according to Freddie Mac's weekly mortgage survey. Freddie Mac reported that the 30-year fixed-rate mortgage averaged 5.62 percent for the week ended today, up from last week when it averaged 5.57 percent. The average for the 15-year fixed-rate mortgage this week is 5.14 percent, up from last week when it averaged 5.1 percent. Points on both the 15- and 30-year averaged 0.7. Five-Year Treasury-indexed hybrid adjustable-rate mortgages averaged 5.05 percent this week, with an average 0.7 points, up from 4.99 last week. There is no annual historical information for last year since Freddie Mac only began tracking this mortgage rate at the start of this year. The one-year Treasury-indexed adjustable-rate mortgage averaged 4.15 percent this week, with an average 0.8 point, up from last week when it averaged 4.11 percent. "Mixed economic indicators can push the market up or down, depending on the timing of...