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Mortgage Rates Inch Up for Second Week

Thursday, May 23, 2013   /   by Carlos J Higareda

Mortgage Rates Inch Up for Second Week



   

Fixed-rate mortgages climbed this week after signs of stronger consumer spending, Freddie Mac reports in its weekly mortgage market survey. 


Here are the national averages for mortgage rates for the week ending May 16: 



  • 30-year fixed-rate mortgages averaged 3.51 percent, with an average 0.7 point, increasing from last week’s 3.42 percent average. A year ago at this time, 30-year rates averaged 3.79 percent. 

  • 15-year fixed-rate mortgages averaged 2.69 percent, with an average 0.7 point, rising from last week’s 2.61 percent average. Last year at this time, 15-year rates averaged 3.04 percent. 

  • 5-year adjustable-rate mortgages averaged 2.62 percent, with an average 0.5 point, rising from last week’s 2.58 percent average. Last year at this time, 5-year ARMs averaged 2.83 percent. 

  • 1-year ARMs averaged 2.55 percent, with an average 0.4 point, rising from last week’s 2.53 percent average. A year ago at this time, 1-year ARMs averaged 2.78 percent. 


Source: Freddie Mac



eXp Realty
Carlos Higareda
719 Virginia Ave, Suite 101
Indianapolis, IN 46203
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