WASHINGTON, Feb. 27 (UPI) -- Interest rates on fixed-rate loans rose for the fourth consecutive week, while adjustable rates eased back, the Federal Home Loan Mortgage Corp. said Thursday.
"The 9.6 percent increase in new home sales for January followed an upward revision of 13,000 units in December. The S&P/Case-Shiller 20-city composite ouse price index rose 13.4 percent over the 12-months ending in December 2013," he added.
Average rates on 30-year fixed-rate loans rose from 4.33 percent to 4.37 percent with 0.7 points in the week, Freddie Mac said.
A year ago, 30-year fixed-rate loans were priced at 3.51 percent.
Average interest rates on 15-year fixed-rate loans rose from 3.35 percent to 3.39 percent with 0.7 point. Those loans averaged 2.76 percent a year ago.
Rates on five-year adjustable loans averaged 3.05 percent, down from 3.08 percent in the previous week and up from 2.61 percent in the same week a year ago.
For one-year, adjustable rate loans, rates averaged 2.52 percent, up from 2.57 percent. One year prior rates for adjustable one-year loans averaged 2.64 percent.