Average fixed mortgage rates in the U.S. rose in the latest week
but remained close to May 2013 lows, according to mortgage-finance
company Freddie Mac (FMCC), amid a strong U.S. jobs report.
Freddie Mac Deputy Chief Economist Len Kiefer noted Thursday
that fixed mortgage rates increased for a second straight week as
yields on the benchmark 10-year Treasury note rose. Other economic
data showed declines in housing starts and housing permits, Mr.
Kiefer stated. However homebuilders remained confident about new
home sales in February, though their view was slightly tempered
from January, he added.
Investors have been struggling to digest conflicting signals on
the health of the U.S. economy, global growth and the outlook for
financial assets.
For the week ended Thursday, the 30-year fixed-rate mortgage
averaged 3.76%, compared with 3.69% a week earlier and 4.33% a year
earlier. Rates on 15-year fixed-rate mortgages averaged 3.05%,
compared with 2.99% the previous week and 3.35% a year earlier.
Five-year Treasury-indexed hybrid adjustable-rate mortgages, or
ARMs, on average, were at 2.97%, unchanged from a week earlier and
down from 3.08% a year earlier. One-year Treasury-indexed ARM rates
on average were 2.45%, compared with 2.42% the previous week and
2.75% a year earlier.
Write to Tess Stynes at tess.stynes@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires