McLean, Va. — The 30-year fixed-rate mortgage this week averaged 6.46% with an average 0.7 point for the week ending Oct. 30, 2008. That's up from last week when it averaged 6.04%.
Last year at this time, the 30-year fixed-rate mortgage averaged 6.26%, according to Freddie Mac's Primary Mortgage Market Survey released today.
The 15-year fixed-rate mortgage this week averaged 6.19% with an average 0.7 point, up from last week when it averaged 5.72%. A year ago at this time, the 15-year fixed-rate mortgage averaged 5.91%.
Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.36% this week, with an average 0.7 point, up from last week when it averaged 6.06%. A year ago, the 5-year ARM averaged 5.98%.
One-year Treasury-indexed ARMs averaged 5.38% this week with an average 0.6 point, up from last week when it averaged 5.23%. At this time last year, the 1-year ARM averaged 5.57%.
Almost half of Bankrate.com's mortgage panelists this week said mortgage rates will rise over the next 35 to 45 days.
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