Mortgage Rates Follow Bond Yields Higher - Mar 15, 2012

Mortgage Rates Follow Bond Yields Higher - Mar 15, 2012 - Freddie Mac

Mortgage rates are staying low by historical standards, despite inching slightly higher this week following a positive job report and increasing bond yields, Freddie Mac reports in its weekly mortgage market survey. 

The following is a closer look at rates for the week ending March 15: 

• 30-year fixed-rate mortgages: averaged 3.92 percent, with an average 0.8 point, inching up from last week’s 3.88 percent average (which was only 0.01 percent above an all-time record low). A year ago at this time, 30-year rates averaged 4.76 percent. 
• 15-year fixed-rate mortgages: averaged 3.16 percent, with an average 0.8 point, climbing from last week’s record reaching 3.13 percent average. Last year at this time, 15-year rates averaged 3.97 percent. 
• 5-year adjustable-rate mortgages: averaged 2.83 percent, with an average 0.8 point, also slightly up from last week’s 2.81 percent average. Last year, 5-year ARMs averaged 3.57 percent at this time of year.
• 1-year ARMs: averaged 2.79 percent, with an average 0.6 point, rising from last week’s 2.73 percent average. Last year, 1-year ARMs averaged 3.17 percent.