Bond yields push up mortgage rates this week

Freddie Mac reported today that the 30-year fixed-rate mortgage (FRM) averaged 5.25 percent for the week, up from last week’s 5.20 percent and down from 6.52 percent last year at this time.

The 15-year FRM this week was 4.69 percent in comparison with 4.68 percent last week and 6.07 percent a year ago.

Five-year Treasury-indexed hybrid adjustable-rate mortgages edged up to 4.75 percent this week from 4.74 percent the prior week.  They were 6.07 percent last year.

One-year Treasury-indexed ARMs were 4.80 percent this week versus last week’s 4.77 percent and last year’s 5.27 percent. Continue reading