US Mortgage Interest Rates Edged up in Week Ending December 17
US mortgage interest rates edged up in week ending December 17, according to the results of the latest weekly Primary Mortgage Market Survey (PMMS) carried out by Freddie Mac.
The increasing trend was manifested across both long-term and short-term mortgage rates. In particular, in the week ending in December 17, the rate for 30-year fixed-rate mortgages increased to 4.94%, representing a 13 basis-point increase from the average rate of 4.81% that prevailed in the previous week.
Similarly, interest rates for 15-year fixed-rate mortgages increased to 4.38%, representing a 6 basis-point increase from the average rate of 4.32% that prevailed in the previous week.
The rate for 5-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) increased to 4.37% , 11 basis points up from the average rate of 4.26% that prevailed in the previous week.
Finally, the interest rates for 1-year Treasury-indexed ARMs increased to 4.34% representing a 10 basis-point increase from the average rate of 4.24% that prevailed in the previous week.
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