Mortgage interest rates increased for the third consecutive week as strong housing data supported the market, according to Freddie Mac.
The average rate for a 30-year fixed-rate mortgage rose to 3.8%
"New home sales
"Also,
This time last year the average rate for a 30-year FRM was 4.37%.
The average rate for a 15-year FRM ticked up two basis points to 3.07%, and the five-year Treasury-indexed adjustable-rate mortgage also increased by two basis points to 2.99%.
Mortgage rates did not increase across the board, however. The average rate for a one-year Treasury-indexed ARM fell by one basis point to 2.44%.