Mortgage Rates Inch Higher
POSTED: 1:59 pm EDT September 15,
2005
UPDATED: 2:05 pm EDT September 15,
2005
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WASHINGTON -- Mortgage rates are higher across the board this week, for the first time in five weeks. But mortgage giant Freddie Mac said the increase was very slight. The agency's weekly survey found the average for 30-year fixed-rate mortgages at 5.74 percent, up slightly from 5.71 percent last week.A competing survey from bankrate.com found the average 30-year fixed-rate mortgage increased from 5.8 percent to 5.84 percent. The average for 15-year fixed-rate mortgages was also up slightly this week, at 5.32 percent, compared with 5.30 percent a week ago.The shorter-term mortgages are a popular option for refinancing a home loan. The average rate for one-year adjustable-rate mortgages, or ARM's, rose just a hundredth of a point, to 4.46 percent, from 4.45 percent last week. Freddie Mac vice president and chief economist Frank Nothaft said mortgage rates were relatively unchanged this week because the markets are waiting for the results of next week's Federal Reserve policy committee meeting.
Previous Stories:
- September 9, 2005: Banks Asked To Return Mortgage Payments To Katrina Victims
- September 8, 2005: Rates On 30-Year Mortgages Hold Steady
- August 18, 2005: Mortgage Rates Ease Slightly
- August 11, 2005: Mortgage Rates Close In On 6 Percent
- July 28, 2005: Mortgage Rates Rise For Fourth Straight Week
- June 23, 2005: Mortgage Rates Keep Sliding
- June 2, 2005: Mortgage Rates Drop Again
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