Mortgage Rates Continue to Rise
Reuters reports that the average U.S. interest rate on 30-year mortgages rose to a level seen in mid-August, mortgage finance company Freddie Mac (FRE) said Thursday.
U.S. 30-year mortgage rates averaged 5.80 percent this week, a level reached in the Aug. 18 week, Freddie Mac said in its weekly survey. Fifteen-year mortgages averaged 5.37 percent, inching up from 5.32 percent last week.
One-year adjustable rate mortgages (search) (ARMs) averaged 4.48 percent in the week compared with 4.46 percent last week.
A year ago, 30-year mortgage rates averaged 5.70 percent, 15-year mortgages 5.10 percent and the ARM 4.00 percent.
