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Fixed-Rate Mortgage

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Mortgage Rates on the Rise 

May 07, 2009By

Mortgage rates turned upward in the week ending May 7, according to Freddie Mac’s [stock FRE][/stock] Primary Mortgage Market Survey released today. Thirty-year fixed-rate mortgages averaged 4.84% with an average 0.7 point, up from last week’s 4.78% average, but far below 6.05%, the average recorded last year at this time. After sitting stagnant at 4.80% for three consecutive weeks, the 15-year fixed-rate mortgage increased this week to 4.51%. A year ago at this time, the 15-year FRM averaged 5.60%.