Mortgage Rates Edge Slightly Higher
Following a December employment report that showed moderate hiring, fixed mortgage rates rose to an eight-week high this week, Freddie Mac reported Jan. 10 in its weekly Primary Mortgage Market Survey.
The 30-year fixed-rate rose 0.06 percentage points this week to 3.40 percent (down from 3.89 percent a year ago). The 15-year fixed-rate increased by 0.02 percent to 2.66 percent (down from 3.23 percent a year ago).
The one-year adjustable-rate mortgage climbed 0.03 percent to 2.60 percent (down from 2.76 percent a year ago). The five-year Treasury-indexed adjustable-rate decreased 0.04 percentage points to 2.67 percent (down from 2.82 percent a year ago).
“Fixed mortgage rates increased slightly following a positive employment report for December,” Frank Nothaft, Freddie Mac vice president and chief economist, said in a news release. “The economy added 155,000 jobs, above the consensus market forecast, and November's job growth was revised upward by another 24,000 workers. This helped keep the unemployment rate steady at 7.8 percent, the lowest since December 2008,” he said. “For all of 2012, 1.86 million jobs were created and represented the largest annual gain since 2006.”
View Freddie Mac’s weekly Primary Mortgage Market Survey.