Freddie Mac Reports Small Rise in Mortgage Rates

By:: Peter King | October 21, 2010

Mortgage rates rose slightly this week, according to today’s Freddie Mac weekly rate survey, easing off last week’s record lows.

Average interest rates on both 30- and 15-year fixed-rate mortgages ticked up by two basis points, to 4.21 percent and 3.64 percent, respectively. Meanwhile, initial rates on the Treasury indexed 5-year adjustable rate mortgage fell two basis points to 3.45 percent, the lowest ever reported in the Freddie Mac survey. A basis point equals one-hundredth of one percentage point (0.01).

The Freddie Mac report suggests that rates settled back down this week after some turbulence late last week. Yesterday, the Mortgage Bankers Association reported big jumps of a dozen basis points or more for both the 30- and 15-year loans coming off record lows the week before.

However, the two surveys cover different time periods; the Freddie Mac survey is conducted over the Monday-Wednesday immediately preceding, while the Mortgage Bankers survey covers the entire week ending the previous Friday.

Frank Nothaft, Freddie Mac chief economist, said mixed inflation signals kept the lid on fixed mortgage rates this week.

Call For Rates

800-419-1494

Speak to a lender now.

We will match calls to our toll free number with our network of lenders.

National Rates

Loan Type	Today	+/-
30 yr fixed	3.69
15 yr fixed	3.00
5/1 ARM	2.75

Rates may contain points

Compare Rates »

Browse Mortgage Rates

Featured Guides

Browse our comprehensive guides to popular topics related to mortgage and personal finance.

Mortgage Rates Calculators

Mortgage Loan Directory and Information, LLC or Mortgageloan.com does not offer loans or mortgages. Mortgageloan.com is not a lender or a mortgage broker. Mortgageloan.com is a website that provides information about mortgages and loans and does not offer loans or mortgages directly or indirectly through representatives or agents. We do not engage in direct marketing by phone or email towards consumers. Contact our support if you are suspicious of any fraudulent activities or if you have any questions.

Mortgageloan.com is a news and information service providing editorial content and directory information in the field of mortgages and loans. Mortgageloan.com is not responsible for the accuracy of information or responsible for the accuracy of the rates, APR or loan information posted by brokers, lenders or advertisers.