Mortgage rates continued to rise for the third straight week, albeit with incremental upticks, according to the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
The 30-year fixed-rate mortgage averaged 6.11% as of Feb. 5, up slightly from last week when it averaged 6.10%. A year ago at this time, it averaged 6.89%.
The 15-year fixed rate mortgage 5.50%, up slightly from last week when it averaged 5.49%. A year ago at this time, it averaged 6.05%.
“For the last several weeks, the 30-year fixed-rate mortgage has remained at its lowest level in years,” said Sam Khater, Freddie Mac’s chief economist. “The combination of improving affordability and availability of homes to purchase is a positive sign for buyers and sellers heading into the spring home sales season.”
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