Average fixed mortgage rates in the U.S. rose in the latest week
but stayed near May 2013 lows, according to mortgage-finance
company Freddie Mac (FMCC), amid solid data on new home sales and
house-price appreciation.
Freddie Mac Deputy Chief Economist Len Kiefer said Thursday that
rates increased for the third straight week in February on the
heels of solid housing data, including new home sales that topped
expectations. Additionally, Mr. Kiefer said, house prices grew over
the course of 2014.
For the week ended Thursday, the 30-year fixed-rate mortgage
averaged 3.80%, compared with 3.76% a week earlier and 4.37% a year
earlier. Rates on 15-year fixed-rate mortgages averaged 3.07%,
compared with 3.05% the previous week and 3.39% a year earlier.
Five-year Treasury-indexed hybrid adjustable-rate mortgages, or
ARMs, on average, were at 2.99%, up from 2.97% a week earlier and
down from 3.05% a year earlier. One-year Treasury-indexed ARM rates
on average were 2.44%, compared with 2.45% a week earlier and 2.52%
a year earlier.
Write to Michael Calia at michael.calia@wsj.com
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