Mortgage rates moved higher this week off the previous week's record lows as Treasury bond yields rose and other housing data showed improvement. One anomaly was the 5-year adjustable-rate mortgage, which declined one-tenths of a percentage point to set a new all-time low.[IMAGE] [COLUMN_BREAK]
New data released by ""Freddie Mac"":http://www.freddiemac.com Thursday shows that for the week ending August 25, the 30-year fixed-rate mortgage averaged 4.22 percent (0.7 point). That's up from 4.15 percent last week. Last year at this time, the 30-year rate was averaging 4.36 percent.
The average rate for a 15-year fixed mortgage came in at 3.44 percent (0.6 point) this week, rising from 3.36 percent last week. Twelve months ago, the 15-year rate averaged 3.86 percent.
The 5-year adjustable-rate mortgage (ARM) slipped from 3.08 percent last week to 3.07 percent (0.5 point) this week. That marks a record low for the 5-year ARM in FreddieÃ¢â‚¬â„¢s study. At this time last year, it was averaging 3.56 percent.
The 1-year ARM, on the other hand, rose from 2.86 percent last week to 2.93 percent (0.5 point). Last year at this time, it was 3.52 percent.
Freddie MacÃ¢â‚¬â„¢s ""weekly mortgage rate survey"":http://www.freddiemac.com/pmms/ is based on data gathered from about 125 lenders across the country