Mortgage Rates Inch Up

After 5 Weeks of Drops, Mortgage Rates Inch Up

The five-week streak of falling mortgage rates took a break this week, with the 30-year fixed-rate mortgage moving up slightly to average 4.28 percent, Freddie Mac reports.

Freddie Mac reports the following national averages for mortgage rates for the week ending Feb. 13:

• 30-year fixed-rate mortgages: averaged 4.28 percent, with an average 0.7 point, up from last week’s 4.23 percent average. Last year at this time, 30-year rates averaged 3.53 percent.
• 15-year fixed-rate mortgages: averaged 3.33 percent, with an average 0.7 point, holding the same average as last week. A year ago, 15-year rates averaged 2.77 percent.
• 5-year hybrid adjustable-rate mortgages: averaged 3.05 percent, with an average 0.5 point, dropping from last week’s 3.08 percent average. Last year at this time, 5-year ARMs averaged 2.64 percent.
• 1-year ARMs: averaged 2.55 percent, with an average 0.4 point, rising from last week’s 2.51 percent average. A year ago, 1-year ARMs averaged 2.61 percent.

Source: Freddie Mac

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