30-Year FRM Inches Up to 5.25%

The average rate for a 30-year fixed-rate mortgage rose to 5.25% from 5.10% during the week ending Feb. 5, according to Freddie Mac. "Interest rates for fixed-rate mortgages rose this week amid economic reports that were somewhat better than consensus forecasts had anticipated," said Frank Nothaft, Freddie Mac vice president and chief economist. The average 30-year FRM rate was down from 5.67% a year ago. The 15-year FRM rate averaged 4.92% in the latest week, up from the previous week's 4.80% but down from 5.15% last year. The average rate for the five-year Treasury-indexed hybrid adjustable-rate mortgage fell slightly to 5.26% from 5.27% but was up from 5.21% a year ago. One-year Treasury-indexed ARM rates averaged 4.92% in the latest week, up from the previous week's 4.90% but down from 5.03% last year. Average points were as follows: 0.8 for 30- and 15-year year FRMs, 0.6 for five-year Treasury-indexed hybrids and 0.5 for one-year Treasury-indexed ARMs.