Mortgages Rates Sneak Upwards

Nationwide average mortgages resumed sneaking upwards this past week according to a report from Freddie Mac (Federal Home Loan Mortgage Corporation). Freddie stated in its latest Weekly Primary Mortgage Market Survey that 30-year fixed mortgage rates averaged 6.17% in the latest reporting period. This is a slight increase from 6.16% last week.

Meanwhile, 15-year fixed mortgage rates also increased slightly from 5.86% the previous week to 5.87% in the latest reporting period. 5-year adjustable rate mortgages also posted a significant uptick from 5.88% to 5.92% this past week.

One-year adjustable rate mortgages averaged 5.44%, which is only a small increase from the rate of 5.43% the previous week.

Here are the current average mortgage rates nationwide as provided by the Federal Home Loan Mortgage Corporation (Freddie Mac):

		Rates This Week	Last Week's Rate
30-year Fixed		6.17%	6.16%
15-year Fixed		5.87%	5.86%
5-year ARM		5.92%	5.88%
1-year ARM		5.44%	5.43%

Bob Roscoe, Mortgage Marketing Associates, Minneapolis, Minnesota
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