U.S. 30-year fixed-rate mortgages rose slightly to 3.90 percent in the week ending April 19, mortgage financier Freddie Mac said Thursday.
The 30-year rate was up from 3.88 percent in the previous week, reversing three weeks of declines. It is far below the 4.80 percent rate of the same period last year.
"Fixed mortgage rates held relatively stable this week amid signs that inflation remains in check," said Frank Nothaft, chief economist of Freddie Mac.
The 15-year rate rose to 3.13 percent from a record low of 3.11 percent in the previous week and down from 4.02 percent last year.
Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 2.78 percent, down from 2.85 from the prior week and 3.61 percent in the prior year.
One-year ARMs averaged 2.81 percent, up from 2.80 percent in the previous week and down from 3.16 percent in the past year.
SOURCE IBTimes