Daily Real Estate News  |  December 9, 2005  |   Mortgage Rates on the Rise Again After declining for two weeks, mortgage rates are beginning to creep up again. According to Freddie Mac, the national average commitment rate on a 30-year, fixed mortgage floated up to 6.32 percent this week from 6.26 percent last week; while the national average commitment rate on a 15-year, fixed mortgage bumped up to 5.87 percent from 5.81 percent. Five-year hybrid ARMs rose slightly to 5.78 percent from 5.76 percent, but one-year ARMs held steady at 5.16 percent. Even with the recent increase in borrowing costs, Freddie Mac chief economist Frank Nothaft says that long-term mortgage rates have held close to the averages set over the past two years.

Source: Detroit Free Press (12/09/05); Crutsinger, Martin