30-Year Rates Just Shy of 5 Percent
Freddie Mac reports slightly higher mortgage rates this week, with the average interest on a 30-year fixed loan topping off at 4.99 percent from the previous week’s 4.96 percent and from 4.85 percent a year ago.
Here’s a look at how other rates fared:
• 15-year fixed loans bumped up to 4.34 percent from 4.33 percent a week earlier but remained down from 4.58 percent a year ago.
• Five-year adjustable-rate mortgages averaged 4.14 percent, climbing from 4.09 percent a week earlier but declining from 4.98 percent a year earlier.
• One-year ARMs were 4.20 percent versus 4.12 percent and 4.85 percent, respectively.
Source: Wall Street Journal, Nathan Becker (03/26/10)