Long-term mortgage rates were up only slightly this week as markets awaited the Federal Reserve’s interest-rate decision Tuesday, Freddie Mac and Bankrate.com reported today.

In Freddie Mac’s survey, the rate on 30-year fixed-rate mortgages rose to an average 6.34 percent from last week’s 6.31 percent, and the 15-year fixed rate nudged higher to 5.98 percent from 5.97 percent. Points, which are fees lenders charge for loan processing expressed as a percent of the loan, averaged 0.5 on the 30- and 15-year loans.

Adjustable-rate mortgages (ARMs) were mixed this week, as the five-year Treasury-indexed hybrid ARM was up at an average 6.21 percent from 6.17 percent a week ago, while the rate on one-year Treasury-indexed ARMs sank to 5.65 percent from 5.66 percent. Points on the five-year and one-year loans averaged 0.5 and 0.6, respectively.

“Mortgage rates were largely unchanged in the previous week, with long-term rates lingering at lower levels not seen since May,” Frank Nothaft, Freddie Mac vice president and chief economist, said in a statement. “The recent retreat in mortgage rates has brought in an increased volume of mortgage applications, according to the Mortgage Bankers Association, and pushed the share of applications for refinancing to the highest rate since April.”

In Bankrate.com’s survey, fixed mortgage rates were slightly higher this week, with the average conforming 30-year fixed mortgage rate rising to 6.32 percent, and discount and origination points averaging 0.34.

The average 15-year fixed-rate mortgage, popular for refinancing, increased to 6 percent, Bankrate.com reported. The average jumbo 30-year fixed rate nosed higher to 7.23 percent. Adjustable mortgage rates moved higher in a more pronounced fashion, with the average one-year ARM stepping up to 6.24 percent and the average 5/1 ARM jumping to 6.41 percent.

Detroit – 6.29 percent with 0.01 point

Boston – 6.4 percent with 0.03 point

Houston – 6.26 percent with 0.63 point

Dallas – 6.24 percent with 0.48 point

Washington, D.C. – 6.24 percent with 0.56 point

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×