By Allison Prang
According to mortgage company Freddie Mac, the average fixed rates on 30 and 15 year mortgages in the United States have increased over the past week.
“From a home buyer’s perspective, demand for home bids is increasing, but very low inventory levels for consumer purchases remain the main obstacle to higher home sales,” Freddie Mac chief economist Sam Hather said Thursday.
For the week ending Thursday, the 30-year fixed rate mortgage averaged 2.87%, up from 2.86% the week before and 2.91% a year earlier.
Rates on 15-year fixed-rate mortgages averaged 2.17%, up from 2.16% the previous week and 2.46% a year earlier.
Treasury-indexed five-year adjustable rate hybrid mortgages averaged 2.42%, up from 2.43% the previous week and 2.91% a year earlier.
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