Arab Today, arab today mortgage rates rise up from record lows
Last Updated : GMT 10:00:33
Arab Today, arab today
Arab Today, arab today

Mortgage rates rise up from record lows

Arab Today, arab today

Arab Today, arab today Mortgage rates rise up from record lows

Washington - UPI

Average mortgage rates for 30-year, fixed-rate loans rose off record lows in the week ending Thursday, the Federal Home Loan Mortgage Corp. said. Average rates for 30-year contracts climbed from 3.67 percent to 3.71 percent with 0.7 points. Thirty-year mortgage rates averaged 4.5 percent the same week of 2011. Average rates on 15-year contracts also rose after establishing a low in the previous week. Average rates on 15-year loans rose from 2.94 percent to 2.98 percent with 0.7 points. A year earlier, rates on 15-year contracts stood at 3.67 percent. Five-year adjustable rate mortgages averaged 2.8 percent in the week with an average 0.6 points, down from an average of 2.84 percent in the previous week. Five-year adjustable rate loans averaged 3.27 percent a year earlier. Average rates on one-year treasury-indexed adjustable mortgages defied the trend and fell during the week. Interest rates dropped from 2.79 percent to 2.78 percent with an average 0.5 points. A year ago, rates for these loans averaged 2.97 percent.

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