Freddie Mac-No Politics (FMCC)

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U.S. Mortgage Rates Rose Further in Latest Week

Average mortgage rates in the U.S. mostly rose for the sixth straight week amid a solid May jobs report, but since they are coming back from record lows they continue to help keep home affordability high, according to Freddie Mac (FMCC).

The 30-year fixed rate has risen more than half a percentage point since beginning to bounce back last month, according to the mortgage-finance company.

For the week ended Thursday, the 30-year fixed-rate mortgage averaged 3.98%, compared with 3.91% the previous week and 3.71% a year earlier. Rates on 15-year fixed-rate mortgages averaged 3.1%, versus 3.03% a week earlier and 2.98% a year ago.

Five-year Treasury-indexed hybrid adjustable-rate mortgages, or ARMs, averaged 2.79%, compared with 2.74% the previous week and 2.8% a year earlier. One-year Treasury-indexed ARM rates averaged 2.58%, unchanged from the previous week and compared to 2.78% the year earlier.

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