The Average 30 Year Mortgage Rates Rise Slightly

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The average 30 year mortgage rates rose slightly this past week. According to a new report out by Freddie Mac, the nationwide average for 30 year mortgages rose to 3.83%. Last week the rates were at 3.80%

The mortgage rates last week, which were at that 3.80% level, were the lowest reported level since Last May. The other mortgage rates also rose slightly as well. The most popular refinance choice is the 15 year mortgage. The rate for a 15 year mortgage is at 3.10%, up just .01% from 3.09%.

The rate for a one year adjustable rate rose the same .01% to only 2.39%. Last week it was at 2.38%.

Last year the 30 year mortgage rates stood at over 4.5%. The rates have been on a steady decline which is great for either refinancing or new home purchases. This comes in the wake of Octobers decision by the Federal Reserve to end its monthly bond purchases.

Be sure to check back with Mortgage.info each week or sign up for our weekly newsletter that will keep you up to date each week with the mortgage news all around the US.

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