Average mortgage rates in the U.S. edged up in the latest week
following positive jobs-market data, according to mortgage-finance
company Freddie Mac (FMCC).
"Based on the employment report released last week, the U.S.
economy added 288,000 jobs in June, gained 224,000 in May and
increased by 304,000 in April," Freddie Mac Chief Economist Frank
Nothaft said in a statement Thursday. "Also, the unemployment rate
in June fell to 6.1% from 6.3% in May."
For the week ended Thursday, the 30-year fixed-rate mortgage
averaged 4.15%, compared with 4.12% a week earlier and 4.51% a year
earlier. Rates on 15-year fixed-rate mortgages averaged 3.24%,
compared with 3.22% the previous week and 3.53% a year earlier.
Five-year Treasury-indexed hybrid adjustable-rate mortgages, or
ARMs, on average were at 2.99%, compared with 2.98% the previous
week and 3.26% a year earlier. One-year Treasury-indexed ARM rates
on average were 2.4%, compared with 2.38% the previous week and
2.66% a year earlier.
Write to Tess Stynes at tess.stynes@wsj.com
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