Inman News

20 February 2014

Mortgage rates increased for the second straight week as minutes from the Federal Reserve’s last meeting indicated that the central bank is unlikely to stop winding down a stimulus program that has helped keep rates near record lows.

Rates on 30-year fixed-rate mortgages averaged 4.33 percent with an average point of 0.7 for the week ending Feb. 20, up from 4.28 percent last week and 3.56 percent a year ago, according to Freddie Mac’s latest Primary Mortgage Market Survey.

Rates on 15-year fixed-rate mortgages, five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans and one-year Treasury-indexed ARMs also all increased.

Source: Freddie Mac