Freddie Mac Reports Long-Term Mortgage Rates Rise

Freddie Mac released the results of its Primary Mortgage Market Survey Thursday, which found that the both fixed- and shorter-term mortgage rates rose this week. This was the third week in a row where fixed-rate mortgage rates were up. The 30-year fixed-rate mortgage (FRM) averaged 4.46 percent with an average 0.8 point for the week ending December 2, 2010, up from last week when it averaged 4.40 percent. Last year at this time, the 30-year FRM averaged 4.71 percent. The 15-year FRM this week averaged 3.81 percent with an average 0.7 point, up from last week when it averaged 3.77 percent. A year ago at this time, the 15-year FRM averaged 4.27 percent.

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