U.S. Fixed Mortgage Rates Edge Up

Average fixed mortgage rates in the U.S. edged up in the latest week, according to mortgage-finance company Freddie Mac (FMCC), hovering around lows for the year.

Freddie Mac Deputy Chief Economist Len Kiefer said Thursday that an advance estimate of March retail sales rebounded 0.9% in March, though it was slightly below expectations.

"The National Association of Home Builders/Wells Fargo Housing Market Index jumped four points to 56 in April, suggesting home builders are optimistic and the housing market will continue to strengthen in 2015," Mr. Kiefer said.

For the week ended Thursday, the 30-year fixed-rate mortgage averaged 3.67%, compared with 3.66% a week earlier and 4.27% a year earlier. Rates on 15-year fixed-rate mortgages averaged 2.94%, compared with 2.93% the previous week and 3.33% a year earlier.

Five-year Treasury-indexed hybrid adjustable-rate mortgages, or ARMs, on average, were at 2.88%, compared with 2.83% the previous week and 3.03% a year earlier. One-year Treasury-indexed ARM rates on average were 2.46%, unchanged the previous week and up slightly from 2.44% a year earlier.

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