Mortgage rates have risen for the fourth straight week, according to Freddie Mac's latest Primary Mortgage Market Survey® (PMMS®). The average 30-year, fixed mortgage rate is 4.2 percent; the average 15-year, fixed mortgage rate is 3.64 percent; and the average five-year, Treasury-indexed hybrid adjustable mortgage rate is 3.77 percent.
 
"Despite the recent rise in mortgage rates, both existing- and new-home sales continue to show strength—indicating the lagged effect of lower rates on housing demand," says Sam Khater, chief economist at Freddie Mac. "This, along with improved affordability, should push housing activity higher in the coming months."
 
30-Year Fixed
Averaging 4.2 percent, with an average 0.5 point
Up from 4.17 percent the prior week, but down from 4.58 percent the prior year
 
15-Year Fixed
Averaging 3.64 percent, with an average 0.5 point
Up from 3.62 percent the prior week, but down from 4.02 percent the prior year
 
5-Year Adjustable
Averaging 3.77 percent, with an average 0.4 point
Down from 3.78 percent the prior week, but up from 3.74 percent the prior year
 
Source: Freddie Mac

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