Mortgage Rates on the Rise

Freddie Mac released the results of its Primary Mortgage Market Survey on Thursday which found that the 30-year fixed-rate mortgage and the 15-year rose dramatically this week, as did the 5-year adjustable rate mortgage. The 1-year adjustable rate mortgage remained unchanged from the previous week. The 30-year fixed-rate mortgage averaged 4.39 percent for the week ending November 18, 2010, up from last week when it averaged 4.17 percent. Last year at this time, the 30-year FRM averaged 4.83 percent. The15-year FRM this week averaged 3.76 percent with an average 0.7 point, up from last week when it averaged 3.57 percent. A year ago at this time, the 15-year FRM averaged 4.32 percent.

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