Hi Folks,

Rates on 30-year mortgages spiked to 6.73 percent this week and rates on 15-year mortgages increased to 6.39 percent from 6.30 percent last week. The "5/1" ARM, set at a fixed rate for five years and adjustable each following year, averaged 6.35 percent compared to 6.29 percent last week. The one-year adjustable rate mortgage, on the other hand, remained at 5.71 percent this week.

Last year at this time, 30-year mortgages averaged 6.74 percent and 15-years were 6.37 percent. The 1-year ARM averaged 5.75 percent and the 5-year was 6.35 percent.

Cheers
Samantha
mortgages_expo@yahoo.com
Nationwide Mortgage Loans