Mortgage Rates Mostly Higher in Week


Average mortgage rates in the U.S. were mostly higher during the past week, while the 30-year fixed rate remained near historic lows, according to mortgage-finance company Freddie Mac (FMCC).

Freddie Mac Chief Economist Frank Nothaft said fixed-mortgage rates rose slightly following a positive employment report for December, which showed that the unemployment rate remained at 7.8%.

For the week ended Thursday, the 30-year fixed rate averaged 3.4% compared with 3.34% last week and 3.89% a year earlier. Rates of 15-year fixed mortgages averaged 2.66% compared with 2.64% last week and 3.16% a year earlier.

Five-year Treasury-indexed hybrid adjustable-rate mortgages, or ARMs, averaged 2.67% compared with 2.71% last week and 2.82% last year. One-year Treasury-index ARM rates averaged 2.6% compared with 2.57% a week earlier and 2.76% last year.