MW: 30-year mortgage rate highest in more than a year
By Ruth Mantell
WASHINGTON (MarketWatch) -- The 30-year fixed-rate mortgage rose to 3.98% in the week ending June 13 - the highest rate since April 2012 -- up from 3.91% in the prior week, Freddie Mac said Thursday in its weekly report. A year ago, the 30-year rate averaged 3.71%. The rate has increased for six weeks, rising more than half of a percentage point since early May. Meanwhile, the 15-year fixed-rate mortgage rose to 3.10% in the latest week from 3.03% in the prior week. The average rate on the 5-year Treasury-indexed hybrid adjustable-rate mortgage rose to 2.79% from 2.74%. And the 1-year Treasury-indexed ARM remained at 2.58%.
