According to Freddie Mac’s latest Primary Mortgage Market Survey, 30-year fixed-rate mortgage rates averaged 3.63 percent (with 0.8 points) for the week ending today, up from 3.52 percent the week before and an all-time low of 3.31 percent in November, but versus 3.92 percent a year ago.
The average 15-year fixed mortgage rate was 2.79 percent, up from 2.76 percent the week before but versus 3.16 percent a year ago.
As rates ticked up, mortgage applications to purchase homes in the U.S. fell 1 percent but remain 9 percent higher on an unadjusted year-over-year basis. Refinancing activity fell 5 percent last week according to the Mortgage Bankers Association.
∙ Mortgage Rates up on Signs of Improving Economy [Freddie Mac]
∙ Mortgage Applications Decrease in Latest MBA Weekly Survey [mbaa.org]