- Retailers Brace for Black Friday With Crowd Control
- Commercial Real Estate Near Disaster: Fund Manager
- Motorola Mulls Sale of Home-Networks Unit: Report
- This Town Will Pay YOU $10,000 to Buy a House
- Billionaire Paulson Raises Cadbury Stake Again
- Bear Stearns Fund Manager—Before His Day in Court
- Commentary: Falling Far Short of Health Care Reform
- Treasury Report Says $209 Billion Left in TARP Funds
- AIG CEO Ready to Quit over Pay Constraints: Report
- Wal-Mart To Continue Retail Success: Analysts
- Financials Lead Dow to Strong November Start
- Markets Salute the Troops on Veteran's Day
- Bear Stearns Fund Manager - Before His Day in Court
- Opposing Views on Coca-Cola Price Target
- How To Play China's 'Amazing' Run: Analysts
- Could Going Solo Ruin Your Career?
- Commercial Real Estate Best Place For Money: Strategist
- Schork Oil Outlook: Nat Gas Bulls Didn’t Stand A Chance
MOST SHARED
- China Signals That It May Allow Currency to Rise Against Dollar
- Website Launches That Gives Free Access to Concerts
- Retailers Brace for Black Friday With Steps to Control Crowds
- Unemployment May Cause Loan Defaults in US: Zoellick
- This Town Will Pay YOU $10,000 to Buy a House
- Markets Salute the Troops on Veteran's Day
- Housing in Focus
- Dodd: Financial Reform Bill Is Open for 'Discussion'
Text Size 
U.S. 30-year mortgage rates continued their ascent this week, reaching their highest level since September 2007, according to a survey released on Thursday by home funding company Freddie Mac.
 |
AP |
One-year adjustable rate mortgages, or ARMs, jumped to an average of 5.19 percent from 5.09 percent.
Freddie Mac [BCS
Loading...
()
] said the "5/1" ARM, set at a fixed rate for five years and adjustable each following year, averaged 5.89 percent, up from 5.70 percent a week earlier.
A year ago, 30-year mortgage rates averaged 6.69 percent, 15-year mortgages 6.37 percent and the one-year ARM 5.66 percent. The 5/1 ARM averaged 6.31 percent.
"Fixed-rate mortgage rates continued to climb this week to the highest point in nearly nine months following the release of May's consumer and producer price indexes, both of which showed stronger levels of inflation," Frank Nothaft, Freddie Mac vice president and chief economist, said in a statement.
Lenders charged an average of 0.7 percent in fees and points on 30-year mortgages, unchanged from last week.
Fees and points on the one-year ARM were also unchanged from the previous week at an average of 0.6 percent.
Charges on the 5/1 ARM fell to an average of 0.6 percent from 0.7 percent the prior week, compared to charges on 15-year mortgages which rose to an average of 0.7 percent from 0.6 percent.
Freddie Mac is a mortgage finance company chartered by Congress that buys mortgages from lenders and packages them into securities to sell to investors or to hold in its own portfolio.
Print
Email
- Bernard and Ruth Madoff's personal possessions will be auctioned this weekend. Click ahead to see.
- How the Lord’s Prayer would read if Goldman Sachs’ Lloyd Blankfein were substituted for you-know-who.
- If you are lucky enough to have money and the time, this is a great time to see America, says CNBC's Jane Wells.
- An Italian cashmere maker aims to make profits while creating ideal conditions for his workers.
- The real result of health care reform will be bloated government and higher deficits, says Larry Kudlow.
- Vote and suggest your own, and remember--there's a fine line between a hero and a zero.
Data is a real-time snapshot *Data is delayed at least 15 minutes