US Mortgage Rates Increase Slightly

The 15-year FRM this week averaged 5.72 percent with an average 0.5 point, upfrom last week when it averaged 5.64 percent.  A year ago at this time, the 15-year FRM averaged 5.92 percent. 

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.43 percent this week, with an average 0.4 point, up from last week when it averaged 5.37 percent.  A year ago, the 5-year ARM averaged 5.93 percent. 

One-year Treasury-indexed ARMs averaged 5.11 percent this week with an average 0.7 point, up from last week when it was 4.98 percent.  At this time last year, the 1-year ARM averaged 5.49 percent (Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.)

“Long-term fixed mortgage rates trended up for a third week, bringing rates on 30-year and 15-year fixed-rate mortgages back to their levels of last November,” said Frank Nothaft, Freddie Mac vice president and chief economist. “Refinancing activities, which had surged to a 12-month high in January, according to Freddie Mac's monthly refi share report, are likely to ebb following this recent rise in rates.”

 

Freddie Mac Region	PMMS Weights
Northeast	23.9
Southeast	20.4
North Central	14.3
Southwest	11.0
West	30.3