30-Year Mortgage Rates Inch Up
The rates on 30-year fixed mortgages increased slightly this week, with average rates rising 4.74 percent from 4.71 percent the previous week, Freddie Mac reports.
In November, 30-year rates had reached a 40-year low at 4.17 percent but have been inching upward ever since.
Here’s how other rates fared for the week:
- 15-year loan rates dropped to 4.05 percent from 4.08 percent.
- 5-year adjustable-rate mortgages averaged 3.69 percent, down slightly from 3.72 percent the previous week.
- 1-year ARMs were up slightly to 3.25 percent from 3.23 percent last week…..read more