Average fixed mortgage rates in the U.S. edged up in the latest
week, but remained below 4%, according to mortgage-finance company
Freddie Mac (FMCC).
Freddie Mac Chief Economist Frank Nothaft stated Thursday that
the higher rates followed a U.S. jobs report showing nonfarm
payrolls adding more new jobs than expected for November, while the
unemployment rate held steady at 5.8%.
For the week ended Thursday, the 30-year fixed-rate mortgage
averaged 3.93%, compared with 3.89% a week earlier and 4.42% a year
earlier. Rates on 15-year fixed-rate mortgages averaged 3.2%,
compared with 3.1% the previous week and 3.43% a year earlier.
Five-year Treasury-indexed hybrid adjustable-rate mortgages, or
ARMs, on average, were at 2.98%, compared with 2.94% the previous
week and a year earlier. One-year Treasury-indexed ARM rates on
average were 2.4%, from 2.41% the previous week and 2.51% a year
earlier.
Write to Tess Stynes at tess.stynes@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires