Rates Move Over 5 Again

Rates Move Over 5 Again

Freddie Mac's Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage (FRM) averaging 5.05 percent with an average 0.7 point for the week ending February 25, up from the previous week when it averaged 4.93 percent. Last year at this time, the 30-year FRM averaged 5.07 percent.

The 15-year FRM last week averaged 4.40 percent with an average 0.7 point, up from the prior week when it averaged 4.33 percent. A year ago at this time, the 15-year FRM averaged 4.68 percent.

"Interest rates for 30-year fixed mortgages followed long-term bond yields higher and rose above 5 percent this week amid a mixed set of economic data reports" said Frank Nothaft, Freddie Mac vice president and chief economist.