WASHINGTON – Home loan rates moved slightly again this week, reaching the highest level in eight weeks, according to Freddie Mac.

The average for the 30-year, fixed-rate loan hit 3.40%, up from 3.34% last week; while the average for the 15-year mortgage rose to 2.66%, from 2.64%.

“Fixed mortgage rates increased slightly following a positive employment report for December,” said Frank Nothaft, chief economist for Freddie Mac.

ARM rates were mixed, with the average for the five-year ARM inching up to 2.66% from 2.64% last week; and the average for the one-year ARM dipping to 2.67% from 2.71% last week.


Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.