U.S. Mortgage Rates Rise in Latest Week

Average fixed mortgage rates in the U.S. rose in the latest week but stayed near May 2013 lows, according to mortgage-finance company Freddie Mac (FMCC), amid solid data on new home sales and house-price appreciation.

Freddie Mac Deputy Chief Economist Len Kiefer said Thursday that rates increased for the third straight week in February on the heels of solid housing data, including new home sales that topped expectations. Additionally, Mr. Kiefer said, house prices grew over the course of 2014.

For the week ended Thursday, the 30-year fixed-rate mortgage averaged 3.80%, compared with 3.76% a week earlier and 4.37% a year earlier. Rates on 15-year fixed-rate mortgages averaged 3.07%, compared with 3.05% the previous week and 3.39% a year earlier.

Five-year Treasury-indexed hybrid adjustable-rate mortgages, or ARMs, on average, were at 2.99%, up from 2.97% a week earlier and down from 3.05% a year earlier. One-year Treasury-indexed ARM rates on average were 2.44%, compared with 2.45% a week earlier and 2.52% a year earlier.

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