U.S. Fixed Mortgage Rates Rise in Latest Week

Average fixed mortgage rates in the U.S. rose in the latest week but remained close to May 2013 lows, according to mortgage-finance company Freddie Mac (FMCC), amid a strong U.S. jobs report.

Freddie Mac Deputy Chief Economist Len Kiefer noted Thursday that fixed mortgage rates increased for a second straight week as yields on the benchmark 10-year Treasury note rose. Other economic data showed declines in housing starts and housing permits, Mr. Kiefer stated. However homebuilders remained confident about new home sales in February, though their view was slightly tempered from January, he added.

Investors have been struggling to digest conflicting signals on the health of the U.S. economy, global growth and the outlook for financial assets.

For the week ended Thursday, the 30-year fixed-rate mortgage averaged 3.76%, compared with 3.69% a week earlier and 4.33% a year earlier. Rates on 15-year fixed-rate mortgages averaged 3.05%, compared with 2.99% the previous week and 3.35% a year earlier.

Five-year Treasury-indexed hybrid adjustable-rate mortgages, or ARMs, on average, were at 2.97%, unchanged from a week earlier and down from 3.08% a year earlier. One-year Treasury-indexed ARM rates on average were 2.45%, compared with 2.42% the previous week and 2.75% a year earlier.

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