U.S. mortgage rates increased in week

WASHINGTON, Sept. 25 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages increased in the week ending Sept. 25, the Federal Home Loan Mortgage Corp. said Thursday.

The 30-year, fixed-rate mortgage averaged 6.09 percent with an average 0.7 points in the week, Freddie Mac said.

A week ago, 30-year, fixed-rate mortgages averaged 5.78 percent with an average 0.6 points. A year ago, the average rate was 6.42 percent.

Interest rates for 15-year, fixed-rate mortgages also increased last the week, climbing from the previous week's average of 5.35 percent to an average 5.77 percent with 0.6 points. A year ago, 15-year fixed-rate mortgages averaged 6.09 percent, the report said.

"Mortgage rates followed Treasury bond yields higher this week amid market uncertainty over the current state of the economy," said Frank Nothaft, Freddie Mac vice president and chief economist.

"The latest housing information for the third quarter continues to show some softness in prices and sales activity. House prices fell 5.3 percent over the twelve months ending in July – weaker than the market consensus," he said.