American Land Title Association
Home  >  News Room
News Room


SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software


Industry News

Long-term Mortgages Rates Rise To Highest Level This Year

February 17, 2006

Rates Continue On Slight And Gradual Upward Trend

McLean, VA — Freddie Mac (NYSE:FRE) Primary Mortgage Market SurveySM (PMMSSM) found that the 30-year fixed-rate mortgage (FRM) averaged 6.28 percent, with an average 0.5 point, for the week ending February 16, 2006, up from last week's average of 6.24 percent. Last year at this time, the 30-year FRM averaged 5.62 percent. 

The average for the 15-year FRM this week is 5.91 percent, with an average 0.5 point, up from last week's average of 5.83 percent. A year ago, the 15-year FRM averaged 5.14 percent.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.95 percent this week, with an average 0.5 point, up from last week when it averaged 5.89 percent. A year ago, the five-year ARM averaged 5.05 percent. 

One-year Treasury-indexed ARMs averaged 5.36 percent this week, with an average 0.7 point, up from last week when it averaged 5.34 percent. At this time last year, the one-year ARM averaged 4.15 percent.

"So far this year, fixed-rate mortgage rates have risen only slightly," said Frank Nothaft, Freddie Mac vice president and chief economist. "Long-term mortgage rates are only marginally higher than they were two months ago. 

"Housing start figures in January came in at the highest level in over three decades, due in part to the combination of low rates and a warmer climate across the country."

The National Mortgage Rate Snapshop
This Week One Week Ago One Year Ago
30-Yr 15-Yr 5-Yr
ARM
1-Yr ARM
6.28 5.91 5.95 5.36
0.5 0.5 0.5 0.7
30-Yr 15-Yr 5-Yr
ARM
1-Yr ARM
6.24 5.83 5.89 5.34
0.6 0.6 0.7 0.5
30-Yr 15-Yr 5-Yr
ARM
1-Yr ARM
5.62 5.14 5.05 4.15
0.7 0.7 0.7 0.8

Source: Freddie Mac



Print Friendly


How To Find Us:
American Land Title Association
1828 L Street, NW, Suite 705
Washington, DC 20036-5104
P. 202.296.3671 F. 202.223.5843
www.alta.org
service@alta.org
Copyright © 2004-2014 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment