The average rate on a 15-year mortgage increased to 3.09% from 3.07% last week. Loan rates regained the stability they've shown in recent months, buttressed by positive economic data, a strong job market, and improved sentiment in the housing market, which saw a slowdown early last year.
Freddie Mac surveys lenders nationwide between Monday and Wednesday each week to compile its mortgage rate figures. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates.
The average fee on 30-year fixed-rate mortgages remained at 0.7 point this week. The average fee for the 15-year mortgage also held at 0.7 point. The average rate for a five-year adjustable-rate mortgage rose to 3.39% from 3.30% last week. The fee was unchanged at 0.3 point.
This story has been corrected to show that rates rose slightly this week, not last week.