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July 25, 2014

Mortgage Rates Take a Bump Up This Week

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Mortgage Rates Take a Bump Up This Week

After temporary relief last week, average fixed-rate mortgages were back on the way up this week, Freddie Mac reports in its weekly mortgage market survey.

Freddie Mac reports the following national averages for mortgage rates for the week ending March 13:

  • 30-year fixed-rate mortgages: averaged 4.37 percent, with an average 0.6 point, rising from last week’s 4.28 percent average. A year ago at this time, 30-year rates averaged 3.63 percent.
  • 15-year fixed-rate mortgages: averaged 3.38 percent, with an average 0.6 point, increasing from last week’s 3.32 percent average. Last year at this time, 15-year rates averaged 2.79 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.09 percent, with an average 0.4 point, inching up from last week’s 3.03 percent average. A year ago at this time, 5-year ARMs averaged 2.61 percent.
  • 1-year ARMs: averaged 2.48 percent, with an average 0.4, dropping from last week’s 2.52 percent average. A year ago, 1-year ARMs averaged 2.64 percent.

Source: Freddie Mac

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