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Mortgage Rates Rise for First Time in 5 Weeks

Saturday, October 12, 2013   /   by Carlos J Higareda

Mortgage Rates Rise for First Time in 5 Weeks



   

Mortgage rates were on the rise slightly this week, following more than a month of declines after the Federal Reserve announced it would delay tapering its $85 billion per month bond purchasing program. 


Freddie Mac reports the following national averages with mortgae rates for the week ending Oct. 10. 



  • 30-year fixed-rate mortgages: averaged 4.23 percent, with an average 0.7 point, rising from last week’s 4.22 percent average. Last year at this time, 30-year rates averaged 3.39 percent. 

  • 15-year fixed-rate mortgages: averaged 3.31 percent, with an average 0.7 point, rising from last week’s 3.29 percent average. Last year at this time, 15-year rates averaged 2.70 percent. 

  • 5-year hybrid adjustable-rate mortgages: averaged 3.05 percent, with an average 0.4 point, rising from last week’s 3.03 percent average. Last year at this time, 5-year ARMs averaged 2.73 percent. 

  • 1-year ARMs: averaged 2.64 percent, with an average 0.4 point, rising from last week’s 2.63 percent average. A year ago, 1-year ARMs averaged 2.59 percent. 


Source: Freddie Mac



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Carlos Higareda
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