Mortgage rates began to wander upward again just as the Federal Reserve announced that it would start winding down its stimulus program early next year.
Before Wednesday’s announcement, mortgage rates already had started to climb, according to the latest data released Thursday by Freddie Mac.
The 30-year fixed-rate average rose to 4.47 percent with an average 0.7 point. It was 4.42 percent a week ago and 3.37 percent a year ago. Since spiking to 4.58 percent in late August, the 30-year fixed rate has bounced between 4.57 percent and 4.1 percent.
The 15-year fixed-rate average jumped to 3.51 percent with an average 0.6 point. It was 3.43 percent a week ago and 2.65 percent a year ago. The 15-year fixed rate had remained below 3.5 percent since late September.
Hybrid adjustable rate mortgages also increased. The five-year ARM average edged up to 2.96 percent with an average 0.4 point. It was 2.94 percent a week ago and 2.71 percent a year ago.
The one-year ARM average went up to 2.57 percent with an average 0.5 point. It was 2.51 percent a week ago.
Read the full report here.