Mortgage Informer

After several weeks below 5 percent, the average interest rate on a 30-year, fixed-rate mortgage (FRM) reversed course and rose to an average 5.05 percent, up from last week’s 4.93 percent, according to Freddie Mac’s weekly Primary Mortgage Market Survey (PMMS).

For the week ending Feb. 25, the rate includes an average 0.7 point. Last year, at this time, the 30-year FRMaverage was 5.07 percent.

The 30-year FRM’s record low average, 4.71 percent, was posted Dec. 3, 2009 as the lowest conforming loan rate since Freddie Mac began its weekly survey in 1971.

The 15-year FRM this week, averaging 4.40 percent, also rose from last week’s 4.33 percent. The rate carried an average 0.7 point. A year ago the 15-year FRM averaged 4.68 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.16 percent the week ending Feb. 25, with an average 0.6 point, up from 4.12 percent from last week. A year ago, the 5-year ARM averaged 5.06 percent.

The 1-year Treasury-indexed ARM came in at an average 4.15 percent this week with an average 0.6 point, down from last week’s 4.23 percent average, according to Freddie Mac. Last year, at this time, the 1-year ARM averaged 4.81 percent.

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Tags: Mortgage, Mortgage Rates