Tuesday 22 March 2016

Mortgage Rates Wander Upward

Posted by at 9:03 AM

Mortgage rates wandered upward for a third week in a row. Despite this, home loan rates are likely to remain low for the near future which is good news for the spring home-buying season.

According to Freddie Mac, the 30-year fixed-rate average rose to 3.73 percent with an average 0.5 point. The rate was 3.68 a week ago and 3.78 percent a year ago.

The 15-year fixed-rate average climbed to 2.99 percent with an average 0.4 point. It was 2.96 percent a week ago and 3.06 percent a year ago. It has stayed under 3 percent since early February.

The 5-year adjustable rate average ended up at 2.93 percent with an average 0.5 point, compared to 2.92 percent a week ago. It was 2.97 percent a year ago.

Original Washington Post Article: Here