Average fixed mortgage rates in the U.S. rose in the latest
week, according to mortgage-finance company Freddie Mac (FMCC),
essentially bringing rates back to levels at the start of the
year.
Freddie Mac Deputy Chief Economist Len Kiefer said Thursday that
the rise in fixed mortgage rates followed stronger-than-expected
U.S. employment data for February.
For the week ended Thursday, the 30-year fixed-rate mortgage
rate averaged 3.86%, compared with 3.75% a week earlier and 4.37% a
year earlier. Rates on 15-year fixed-rate mortgages averaged 3.1%,
compared with 3.03% the previous week and 3.38% a year earlier.
Five-year Treasury-indexed hybrid adjustable-rate mortgages, or
ARMs, on average, were at 3.01%, compared with 2.96% the previous
week and 3.09% a year earlier. One-year Treasury-indexed ARM rates
on average were at 2.46%, from 2.44% the previous week and 2.48% a
year earlier.
Write to Tess Stynes at tess.stynes@wsj.com
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