facebook
twitter
search
search

U.S.mortgage rates rise slightly

Oct. 11, 2012 at 1:03 PM
| License Photo

WASHINGTON, Oct. 11 (UPI) -- Fixed mortgage rates on long-term loans in the United States rose off record lows in the week ending Thursday, the Federal Home Loan Mortgage Corp. said.

The average 30-year fixed mortgage interest rate rose from 3.36 percent to 3.39 percent with an average 0.7 points, Freddie Mac said.

A year earlier, interest rates for 30-year, fixed-rate loans were at 4.12 percent.

For 15-year loans, interest rates rose from 2.69 percent to 2.7 percent with an average 0.6 points. A year ago, 15-year loan rates averaged 3.37 percent.

Average interest rates for five-year adjustable-rate mortgages rose from 2.72 percent in the week to 2.73 percent. In the same week of 2011, rates for five-year ARM contracts stood at 3.06 percent.

The average interest rates for one-year ARM contracts was 2.59 percent in the week with 0.4 points, up from 2.57 percent in the previous week.

Rates a year ago for one-year ARM contracts averaged 2.9 percent.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Bleak outlook for oil has Russian investors pulling back
Shoot-from-the-hip, around corner sighting capability unveiled
Rhode Island to get offshore wind farm
Oil prices off slightly after China stock market decline
Airbus Helicopters announces factory acceptance of training aircraft