The average mortgage rates in the US edged up in the latest week amid signs of a stronger economic recovery and recent positive housing and manufacturing data.
Bankrates, weekly national survey shows that the 30 year fixed mortgage rate which was at 4.62 last week is now at 4.72%. The average 15 year fixed mortgage increased from 3.66 to 3.74 %. Seven year adjustable rate mortgages increased from 4% to 4.04%.
Meanwhile the popular five year adjustable rate jumped from last week's 3.61% to 3.65%. To read more click here.
PrivoCorp is a contract mortgage processor licensed in several states in the US.
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