Average fixed mortgage rates in the U.S. rose in the latest
week, according to mortgage-finance company Freddie Mac (FMCC), but
still hovered near their lows of May 2013.
Freddie Mac Deputy Chief Economist Len Kiefer noted Thursday
that the increase in mortgage rates in the latest week followed
strong economic data, including the addition of 257,000 new jobs in
January after robust increases of 329,000 in December and 423,000
in November. Average hourly earnings rose 0.5%, following a 0.2%
decline in December.
For the week ended Thursday, the 30-year fixed-rate mortgage
averaged 3.69%, compared with 3.59% a week earlier and 4.28% a year
earlier. Rates on 15-year fixed-rate mortgages averaged 2.99%,
compared with 2.92% the previous week and 3.33% a year earlier.
Five-year Treasury-indexed hybrid adjustable-rate mortgages, or
ARMs, on average, were at 2.97%, compared with 2.82% the previous
week and 3.05% a year earlier. One-year Treasury-indexed ARM rates
on average were 2.42%, compared with 2.39% the previous week and
2.55% a year earlier.
Write to Tess Stynes at tess.stynes@wsj.com
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