30-year fixed punches through 5 percent

Bernanke confirms Fed will end MBS purchases

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

Rates on 30-year fixed-rate mortgages broke through the 5 percent mark this week for the first time in three weeks, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.

The 30-year fixed-rate mortgage averaged 5.05 percent with an average 0.7 point for the week ending Feb. 25, up from 4.93 percent last week but down from 5.07 percent a year ago.