The average rate for a 30-year fixed rate mortgage according to the Freddie Mac Primary Mortgage Market Survey for the week ended June 4 jumped to a high not seen since late last year. That reflects a recent spike in the benchmark 10-year Treasury yield. The average 30-year FRM rate was 5.29%, up from 4.91% the previous week but down from 6.09% a year ago. "Thirty-year fixed-rate mortgage rates caught up to the recent rise in long-term bond yields this week to reach a 25-week high," said Frank Nothaft, Freddie Mac vice president and chief economist. Points for fixed rate loans averaged 0.7 during the week and 0.6 for hybrid Treasury indexed adjustable rate mortgages and one-year Treasury ARMs. Rates for all loan types rose.
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