30-Year Rate Rises

The average 30-year fixed mortgage rate rose from 6.23% to 6.25% over the seven-day period ended Jan. 25, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate was unchanged at 5.98%, the average rate for five-year Treasury-indexed hybrid adjustable-rate mortgages declined from 6.04% to 6.00%, and the average rate for one-year Treasury-indexed ARMs decreased from 5.51% to 5.49%, Freddie Mac reported. Fees and points averaged 0.4 of a point for fixed-rate mortgages and hybrid ARMs and 0.5 of a point for one-year ARMs. "Mortgage rates were mixed this week on news that December's leading indicators, a measure of future economic activity, signaled steady growth in the coming months," said Frank Nothaft, Freddie Mac's chief economist. "And in the housing market, December's new construction came in stronger than expected despite a decline in one-unit residence starts." A year ago, the average 30-year and 15-year fixed rates were 6.12% and 5.70%, respectively, and the average hybrid and one-year ARM rates were 5.75% and 5.20%, respectively, Freddie Mac said. Freddie Mac can be found online at http://www.freddiemac.com.